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Atlantic Power eyes calling 5.75%, some 6% convertibles via new issue
By Wendy Van Sickle
Columbus, Ohio, Jan. 22 – Atlantic Power Corp. plans to redeem all $42.5 million of its 5.75% series C convertible subordinated debentures due June 30, 2019 with some proceeds of a new issue of C$70 million of 6% unsecured subordinated convertibles due Jan. 31, 2025, according to a press release.
The series C convertibles have a par call date of June 30, 2017.
If there are any remaining proceeds, the company intends to use them to fund a partial redemption of its C$81 million of 6% series D extendible convertible unsecured subordinated debentures due Dec. 31, 2019, which have a par call date of Dec. 31, 2017.
Dedham, Mass.-based Atlantic Power owns and operates a fleet of power generation assets.
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