Senior Notes (2028 Notes
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Capital Power Announces Pricing of US$1.2 Billion of Senior Notes
Globenewswire· 2025-05-13 21:47
Core Viewpoint - Capital Power Corporation announced a private offering of US$700 million in 5.257% senior notes due 2028 and US$500 million in 6.189% senior notes due 2035 to fund acquisitions and future growth opportunities [1][2] Group 1: Offering Details - The offering consists of US$700 million of 5.257% senior notes due 2028 and US$500 million of 6.189% senior notes due 2035 [1] - The notes will be guaranteed by Capital Power and its subsidiaries that guarantee the revolving credit facilities [1] - The offering is expected to close on or about May 28, 2025, subject to customary conditions [1] Group 2: Use of Proceeds - The net proceeds will fund the acquisition of Hummel Station, LLC (1,124 MW) and Rolling Hills Generating, L.L.C. (1,023 MW) [2] - If the acquisition is not completed by January 15, 2026, the 2035 Notes will be subject to a special mandatory redemption [2] - If the acquisition does not occur, proceeds will be used for special mandatory redemption, financing future growth, capital development expenditures, reducing debt, or other corporate purposes [2] Group 3: Company Overview - Capital Power is a growth-oriented power producer with approximately 10 GW of power generation across 30 facilities in North America [9] - The company focuses on delivering reliable and affordable power while building lower-carbon power systems [9]