Atlantic Power to redeem C$112.13 million 6% convertibles due 2025

By Wendy Van Sickle

Columbus, Ohio, Dec. 2 – Atlantic Power Corp. and wholly owned subsidiary Atlantic Power LP intends to redeem its C$112,131,000 of outstanding 6% series E convertible subordinated debentures due Jan. 31, 2025, according to a press release.

The company will redeem the debentures on Jan. 31 at C$1,030 for each C$1,000 principal amount, which reflects par plus accrued interest.

All debentures that were not converted prior to 4 p.m. ET on May 11, 2021 were defeased effective as of the closing of Atlantic Power's going private transaction with affiliates of infrastructure funds managed by I Squared Capital Advisors (US) LLC on May 14, 2021.

Any debentures that remained outstanding following expiry of a post-closing make-whole conversion period that ended on June 14, 2021 have and will continue to receive interest at a rate of 6% to the date of redemption.

Dedham, Mass.-based Atlantic Power owns and operates a fleet of power generation assets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.