Northland Power calls 5% series B convertible debentures

New York, Nov. 16 – Northland Power Inc. will redeem its C$77 million of 5% extendible convertible unsecured subordinated debentures, series B, due June 30, 2019 on Dec. 21, according to a news release.

The company will pay par plus accrued interest up to but excluding the redemption date.

Before 5 p.m. ET on the last business day before the redemption date, holders may convert the securities into common shares at the conversion price of C$21.60, equivalent to 46.2963 share per C$1,000 principal amount.

Fractional shares will be settled in cash.

The company’s stock closed at C$21.25 on Friday.

Northland Power is a Toronto-based independent power producer that builds, owns and operates natural gas and green energy facilities.

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