Otter Tail Corp (OTTR): debt financing — Otter Tail Power issues $70M 6.04% senior notes due 2056

Otter Tail Corp

$70M aggregate principal of Series 2026B Notes at 6.04% due June 4, 2056.
Proceeds to fund capital expenditures, refinance existing debt, and general corporate purposes.
Covenant limits: Interest-bearing Debt ≤65% of Total Capitalization; Priority Indebtedness ≤20%.
Notes are senior unsecured obligations of Otter Tail Power Company, a wholly owned subsidiary.
Issuance under Note Purchase Agreement previously reported on March 23, 2026.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

Otter Tail Corp incurred senior notes of $70,000,000 with Purchasers named in Note Purchase Agreement at 6.04% maturing June 4, 2056.

Instrument: senior notes
Principal: $70,000,000
Counterparty: Purchasers named in Note Purchase Agreement
Rate: 6.04%
Maturity: June 4, 2056
Event: incurrence

Exact text from the filing

On June 4, 2026, OTP issued the Series 2026B Notes pursuant to the Note Purchase Agreement for aggregate proceeds of $70,000,000.

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Source: SEC EDGAR

accession 0001466593-26-000061

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