Atlantic Power begins marketing $460 million seven-year notes

By Paul A. Harris

Portland, Ore., Oct. 17 - Atlantic Power Corp. began marketing a $460 million offering of seven-year senior notes on Monday, according to an informed source.

The deal is expected to price late in the present week.

Morgan Stanley & Co. LLC and TD Securities (USA) LLC are the joint bookrunners. Macquarie Capital is the co-manager.

The Rule 144A with registration rights notes come with three years of call protection.

Credit ratings remain to be determined.

The Boston-based independent power producer plans to use the proceeds to fund a portion of the cash portion of its acquisition of Capital Power Income LP and to repay Capital Power Income LP's revolver. Any remaining proceeds would be used to fund additional growth opportunities and for general corporate purposes.

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