secwatch.observer — SEC 8-K summary
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Issuer:     Otter Tail Corp (OTTR)
CIK:        0001466593
Form:       8-K
Filed at:   2022-05-23T23:59:59+00:00
Accession:  0001466593-22-000035
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Otter Tail subsidiary closes $90M of 3.77% senior notes due 2052
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- OTP issued $90M Series 2022A Notes at 3.77% due May 20, 2052, completing a $230M private placement.
- Proceeds to refinance existing debt, fund capex, and for general corporate purposes.
- Series 2021A ($40M at 2.74% due 2031) and 2021B ($100M at 3.69% due 2051) were issued Nov 29, 2021.
- Note Purchase Agreement includes financial covenants: Interest-bearing Debt ≤60% of Total Capitalization, Priority Indebtedness ≤20%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1466593/000146659322000035/0001466593-22-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1466593/000146659322000035/ottr-20220520.htm
  HTML page:      https://secwatch.observer/filing/0001466593-22-000035

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