debt
confidence high
sentiment neutral
materiality 0.40
Otter Tail Power subsidiary issues $50M 5.98% senior notes due 2055
Otter Tail Corp
- Otter Tail Power Company issued $50M 5.98% Series 2025B Senior Notes due June 5, 2055.
- Proceeds will fund capital expenditures, refinance existing debt, and general corporate purposes.
- Debt covenants cap Interest-bearing Debt at 65% and Priority Indebtedness at 20% of Total Capitalization.
- Notes are privately placed; prepayment allowed with make-whole amount except near maturity.
item 2.03