---
schema_version: "secwatch.filing_event.v1"
accession: "0001466593-24-000147"
form_type: "8-K"
ticker: "OTTR"
cik: "0001466593"
company_name: "Otter Tail Corp"
filed_at: "2024-12-16T23:59:59+00:00"
generated_at: "2026-05-29T02:52:57.999318+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001466593-24-000147
- form_type: 8-K
- ticker: OTTR
- cik: 0001466593
- company_name: Otter Tail Corp
- filed_at: 2024-12-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1466593/000146659324000147/0001466593-24-000147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1466593/000146659324000147/ottr-20241211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001466593-24-000147
- JSON: https://secwatch.observer/filing/0001466593-24-000147.json
- Plain text: https://secwatch.observer/filing/0001466593-24-000147.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.