Otter Tail Corp (OTTR): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Otter Tail Corp incurred senior notes of $50,000,000 in aggregate principal amount of its 5.98% Series 2025B Senior Unsecured Notes at 5.98% maturing June 5, 2055.

Instrument: senior notes
Principal: $50,000,000 in aggregate principal amount of its 5.98% Series 2025B Senior Unsecured Notes
Rate: 5.98%
Maturity: June 5, 2055
Event: incurrence

Exact text from the filing

On June 5, 2025, OTP issued the Series 2025B Notes pursuant to the Note Purchase Agreement for aggregate proceeds of $50,000,000.

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Source: SEC EDGAR

accession 0001466593-25-000097

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