---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-040379"
form_type: "8-K"
ticker: null
cik: "0000788816"
company_name: "OGLETHORPE POWER CORP"
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:41:40.598418+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Oglethorpe Power issues $400M of 6.20% First Mortgage Bonds due 2053

## Summary
- Issued $400M aggregate principal amount of 6.20% First Mortgage Bonds, Series 2023A due December 1, 2053.
- Sale expected to close December 5, 2023; bonds sold in private placement under Rule 144A and Regulation S.
- Interest payable semi-annually on June 1 and December 1, beginning June 1, 2024.
- Bonds redeemable at par plus make-whole premium prior to June 1, 2053; first mortgage lien on substantially all tangible property.
- Company agrees to file exchange registration statement within 180 days after issue; Special Interest accrues if registration default occurs.

## SEC filing metadata
- accession: 0001628280-23-040379
- form_type: 8-K
- cik: 0000788816
- company_name: OGLETHORPE POWER CORP
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788816/000162828023040379/0001628280-23-040379-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788816/000162828023040379/opc-20231128.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-040379
- JSON: https://secwatch.observer/filing/0001628280-23-040379.json
- Plain text: https://secwatch.observer/filing/0001628280-23-040379.txt

## Key facts
- Debt Financings
  OGLETHORPE POWER CORP incurred mortgage of $400,000,000 with MUFG Securities Americas Inc., as representative of the purchasers named therein at 6.20% per annum maturing December 1, 2053.
  - Instrument: mortgage
  - Principal: $400,000,000
  - Counterparty: MUFG Securities Americas Inc., as representative of the purchasers named therein
  - Rate: 6.20% per annum
  - Maturity: December 1, 2053
  - Event: incurrence
  source text: On November 28, 2023, we entered into a purchase agreement with MUFG Securities Americas Inc., as representative of the purchasers named therein, with respect to our issuance and sale of an aggregate principal amount of $400,000,000 of 6.20% First Mortgage Bonds, Series 2023A due 2053.
  evidence_url: https://www.sec.gov/Archives/edgar/data/788816/000162828023040379/0001628280-23-040379-index.htm
- Material Agreements
  OGLETHORPE POWER CORP entered into Eighty-Seventh Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $400,000,000 6.20% First Mortgage Bonds due 2053 (effective 2023-12-05).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $400,000,000 6.20% First Mortgage Bonds due 2053
  - Effective: 2023-12-05
  source text: We expect the bonds to be issued on December 5, 2023 pursuant to an Indenture dated March 1, 1997 between us, formerly known as Oglethorpe Power Corporation (An Electric Generation & Transmission Corporation), and U.S. Bank Trust Company, National Association, as successor to U.S. Bank National Association, as trustee, as supplemented by the Eighty-Seventh Supplemental Indenture, to be dated as of December 1, 2023, between us and the trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/788816/000162828023040379/0001628280-23-040379-index.htm
- Material Agreements
  OGLETHORPE POWER CORP entered into Exchange and Registration Rights Agreement with MUFG Securities Americas Inc. valued at Registration rights for $400,000,000 6.20% First Mortgage Bonds (effective 2023-12-05).
  - Action: entry
  - Counterparty: MUFG Securities Americas Inc.
  - Value: Registration rights for $400,000,000 6.20% First Mortgage Bonds
  - Effective: 2023-12-05
  source text: In connection with the closing of the sale of the bonds, we intend to enter into an exchange and registration rights agreement, to be dated on or about December 5, 2023, with MUFG Securities Americas Inc., as representative of the purchasers identified therein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/788816/000162828023040379/0001628280-23-040379-index.htm
- Material Agreements
  OGLETHORPE POWER CORP entered into Purchase Agreement with MUFG Securities Americas Inc. valued at $400,000,000 6.20% First Mortgage Bonds (effective 2023-11-28).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: MUFG Securities Americas Inc.
  - Value: $400,000,000 6.20% First Mortgage Bonds
  - Effective: 2023-11-28
  source text: On November 28, 2023, we entered into a purchase agreement with MUFG Securities Americas Inc., as representative of the purchasers named therein, with respect to our issuance and sale of an aggregate principal amount of $400,000,000 of 6.20% First Mortgage Bonds, Series 2023A due 2053.
  evidence_url: https://www.sec.gov/Archives/edgar/data/788816/000162828023040379/0001628280-23-040379-index.htm

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