EDMONTON, Alberta, May 14, 2024 (GLOBE NEWSWIRE) -- Capital Power Corporation ("Capital Power" or the "Company") (TSX:CPX) announced today that it has priced a public offering in Canada of C$450M 8.125% Fixed-to-Fixed Rate Subordinated Notes, Series 2 due June 5, 2054 (the "Notes").
The Offering is expected to close on or about June 5, 2024.
The Company intends to use the net proceeds from the sale of the Notes to repay certain amounts drawn on the Company's credit facilities (which include amounts drawn for the acquisition of a 50% interest in New Harquahala Generating Company, LLC, and a 100% interest in CXA La Paloma, LLC, and related expenses, development purposes and in respect of ongoing operations), to redeem all of the Company's outstanding Cumulative Minimum Rate Reset Preferred Shares, Series 11 (TSX: CPX.PR.K) (the "Preferred Shares"), and for general corporate purposes.
The Notes have been assigned a provisional rating of BB by S&P Global Ratings and BB by DBRS Limited.
The Offering is being made in Canada through a syndicate of investment dealers co-led by RBC Capital Markets and Scotiabank under Capital Power's short form base shelf prospectus dated June 10, 2022, as supplemented by a prospectus supplement dated May 14, 2024 to be filed with the securities regulatory authorities in each of the provinces and territories of Canada. The short form base shelf prospectus and prospectus supplement contain important detailed information about the Notes.
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.
艾伯塔省埃德蒙頓,2024年5月14日(GLOBE NEWSWIRE)——Capital Power Corporation(“Capital Power” 或 “公司”)(多倫多證券交易所股票代碼:CPX)今天宣佈,它已對加拿大將於2054年6月5日到期的2.5億加元的固定至固定利率次級票據(“票據”)進行定價。
本次發行預計將於2024年6月5日左右結束。
公司打算將出售票據的淨收益用於償還從公司信貸額度中提取的某些款項(包括爲收購新哈誇哈拉發電公司有限責任公司50%的權益和CXA La Paloma, LLC的100%權益以及相關費用、開發目的和持續運營而提取的款項),以贖回公司所有已發行的累計最低利率重置系列11股優先股(多倫多證券交易所:CPX.PR.K)(“優先股”),用於一般公司用途。
標普全球評級已將這些票據的臨時評級定爲BB,DBRS Limited已將這些票據的臨時評級定爲BB。
本次發行由加拿大皇家銀行資本市場和豐業銀行共同牽頭,由加拿大皇家銀行資本市場和豐業銀行共同牽頭,根據Capital Power於2022年6月10日發佈的簡短基本貨架招股說明書,並輔之以將於2024年5月14日向加拿大各省和地區的證券監管機構提交的招股說明書補充文件。簡短的基本貨架招股說明書和招股說明書補充文件包含有關票據的重要詳細信息。
本新聞稿不構成任何司法管轄區的賣出要約或購買票據要約的邀請。這些票據尚未獲得任何監管機構的批准或不批准。這些票據過去和將來都沒有根據經修訂的1933年《美國證券法》或任何州證券法進行註冊,也不得在美國境內發行或出售,也不得向美國人發行或出售,也不得向美國人發行或出售,也不得以美國人的名義發行或出售。