Otter Tail enters new $170M corp revolver & $220M OTP revolver, both due Dec 2029

Otter Tail Corp

Unsecured $170M Otter Tail Corp revolver (expandable to $290M), replacing Oct 2022 facility, expires Dec 11, 2029.
Unsecured $220M Otter Tail Power revolver (expandable to $300M), replacing Oct 2022 facility, expires Dec 11, 2029.
No amounts outstanding on parent revolver; $31.1M drawn on OTP revolver plus $8.8M in LOCs as of Dec 11, 2024.
Interest rate based on benchmark plus margin tied to borrower's credit rating; max leverage covenant: interest-bearing debt to total capitalization ≤0.65.
Both facilities provide for letters of credit (parent $40M, OTP $50M) and general corporate purposes including capex.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.