secwatch.observer — SEC 8-K summary
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Issuer:     Otter Tail Corp (OTTR)
CIK:        0001466593
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001466593-24-000061
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Otter Tail Power Co. issues $120M in senior notes: 5.48% Series 2024A (2034) and 5.77% Series 2024B (2054)
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- $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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1466593/000146659324000061/0001466593-24-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1466593/000146659324000061/ottr-20240328.htm
  HTML page:      https://secwatch.observer/filing/0001466593-24-000061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer