Otter Tail Power prices $100 million senior unsecured notes in private placement
Otter Tail Power Company, a subsidiary of Otter Tail Corporation, entered a Note Purchase Agreement on March 27, 2025, issuing $100 million of senior unsecured notes in a private placement. The company plans to use the proceeds for capital expenditures, refinancing existing debt and general corporate purposes, which adds to the subsidiary's debt load and comes with covenants limiting debt to 65% of total capitalization.
Key points
- Series 2025A: $50 million, 5.49% notes due March 27, 2035, issued March 27, 2025
- Series 2025B: $50 million, 5.98% notes due June 5, 2055, expected to be issued June 5, 2025, subject to closing conditions
- Covenants cap Interest-bearing Debt at 65% of Total Capitalization and Priority Indebtedness at 20%, tested each fiscal quarter
- Filing dated March 31, 2025, signed by CFO Todd R. Wahlund
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 31, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.