{"schema_version":"secwatch.filing_event.v1","accession":"0001466593-24-000061","form_type":"8-K","ticker":"OTTR","cik":"0001466593","company_name":"Otter Tail Corp","filed_at":"2024-04-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:18.514612+00:00","generated_at":"2026-06-04T03:28:14.177287+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Otter Tail Power Co. issues $120M in senior notes: 5.48% Series 2024A (2034) and 5.77% Series 2024B (2054)","bullets":["$120M total: $60M Series 2024A at 5.48% due 2034, $60M Series 2024B at 5.77% due 2054.","Proceeds to fund capital expenditures, refinance existing debt, and general corporate purposes.","Covenant: Interest-bearing Debt ≤60% of Total Capitalization; Priority Indebtedness ≤20% of Total Capitalization.","Prepayment allowed with make-whole; no make-whole after Jan 1, 2034 (2024A) or after Oct 1, 2053 (2024B)."],"urls":{"canonical":"https://secwatch.observer/filing/0001466593-24-000061","json":"https://secwatch.observer/filing/0001466593-24-000061.json","markdown":"https://secwatch.observer/filing/0001466593-24-000061.md","text":"https://secwatch.observer/filing/0001466593-24-000061.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1466593/000146659324000061/0001466593-24-000061-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1466593/000146659324000061/ottr-20240328.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T03:28:14.177287+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"05f29251a1eaacce876a92abaf06b56cb7af4f66","claim":"Otter Tail Corp incurred senior notes of $60,000,000 with purchasers named in Note Purchase Agreement at 5.48% maturing April 1, 2034.","evidence_excerpt":"pursuant to which the Company issued to the Purchasers, in a private placement transaction, $120,000,000 aggregate principal amount of the Company’s senior unsecured notes consisting of $60,000,000 in aggregate principal amount of its 5.48% Series 2024A Senior Unsecured Notes due April 1, 2034 (the “Series 2024A Notes”) and $60,000,000 in aggregate principal amount of its 5.77% Series 2024B Senior Unsecured Notes due April 1, 2054 (the “Series 2024B Notes”) (collectively, the “Notes”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1466593/000146659324000061/0001466593-24-000061-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$60,000,000"},{"label":"Counterparty","value":"purchasers named in Note Purchase Agreement"},{"label":"Rate","value":"5.48%"},{"label":"Maturity","value":"April 1, 2034"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"dade3b47629a22d9d92a112ea1b43164a445ffec","claim":"Otter Tail Corp incurred senior notes of $60,000,000 with purchasers named in Note Purchase Agreement at 5.77% maturing April 1, 2054.","evidence_excerpt":"pursuant to which the Company issued to the Purchasers, in a private placement transaction, $120,000,000 aggregate principal amount of the Company’s senior unsecured notes consisting of $60,000,000 in aggregate principal amount of its 5.48% Series 2024A Senior Unsecured Notes due April 1, 2034 (the “Series 2024A Notes”) and $60,000,000 in aggregate principal amount of its 5.77% Series 2024B Senior Unsecured Notes due April 1, 2054 (the “Series 2024B Notes”) (collectively, the “Notes”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1466593/000146659324000061/0001466593-24-000061-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$60,000,000"},{"label":"Counterparty","value":"purchasers named in Note Purchase Agreement"},{"label":"Rate","value":"5.77%"},{"label":"Maturity","value":"April 1, 2054"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"479951827609ff659d5d5507d3ee9c4fe01dac3b","claim":"Otter Tail Corp entered into Note Purchase Agreement with the purchasers named therein valued at $120,000,000 aggregate principal amount (effective 2024-03-28).","evidence_excerpt":"On March 28, 2024, Otter Tail Power Company (the “Company”), a wholly owned subsidiary of Otter Tail Corporation (“OTC”), entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with the purchasers named therein (the “Purchasers”), pursuant to which the Company issued to the Purchasers, in a private placement transaction, $120,000,000 aggregate principal amount of the Company’s senior unsecured notes","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1466593/000146659324000061/0001466593-24-000061-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"the purchasers named therein"},{"label":"Value","value":"$120,000,000 aggregate principal amount"},{"label":"Effective","value":"2024-03-28"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}