Capital Power announces a C$600 million medium term note offering
Press Release
August 26, 2024
EDMONTON, Alberta – Capital Power Corporation (“Capital Power”) (TSX:CPX) announced today that it has priced a public offering in Canada of unsecured medium term notes (the “Notes”) in the aggregate principal amount of C$600 million (the “Offering”). The Notes have a coupon rate of 4.831% and mature on September 16, 2031.
The Offering is expected to close on or about September 16, 2024.
Capital Power intends to use the net proceeds of the Offering to repay, redeem or refinance existing indebtedness, including indebtedness under outstanding debt securities or Capital Power’s credit facilities, or for general corporate purposes.
The Notes have been assigned a provisional rating of BBB- by S&P Global Ratings and BBB (low) by DBRS Limited.
The Notes are being offered in Canada through a syndicate of investment dealers co-led by BMO Nesbitt Burns Inc. and National Bank Financial Inc. under Capital Power’s short form base shelf prospectus dated June 12, 2024 as supplemented by a prospectus supplement dated June 17, 2024 and a pricing supplement to be dated August 26, 2024. The short form base shelf prospectus, the prospectus supplement and the pricing supplement contain important detailed information about the Notes. Copies of these documents are, and in the case of the pricing supplement will be, available electronically on the System for Electronic Data Analysis and Retrieval + (“SEDAR+”) at www.sedarplus.ca.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction. The Notes have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States, or to or for the account of, United States persons.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 9,300 MW of power generation at 32 facilities across North America. We prioritize safely delivering reliable and affordable power communities can depend on today, building clean power systems needed for tomorrow, and creating balanced solutions for our energy future. We are Powering Change by Changing PowerTM.
Contact
Media Relations
Katherine Perron
(780) 392-5335
kperron@capitalpower.com
Investor Relations
Roy Arthur
(403) 736-3315
investor@capitalpower.com
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