Loan & DebtMay 13, 2026, 06:08 AM
Algonquin Power Prices $1.15B Senior Unsecured Notes
AI Summary
Algonquin Power & Utilities Corp. announced that its subsidiary, Liberty Utilities Co., priced an offering of $1.15 billion in senior unsecured notes. This includes $650 million of 5.100% notes due 2031 and $500 million of 5.650% notes due 2036. The net proceeds will be used to repay an intercompany loan from AQN to Liberty Utilities and to refinance AQN's outstanding $1.15 billion 5.365% notes due 2026.
Key Highlights
- Liberty Utilities priced $650 million of 5.100% senior notes due May 15, 2031.
- Liberty Utilities priced $500 million of 5.650% senior notes due May 15, 2036.
- Total offering amounts to $1.15 billion in senior unsecured notes.
- Net proceeds will repay a $690 million intercompany loan from AQN to Liberty Utilities.
- AQN will use funds to refinance $1.15 billion of its outstanding 5.365% notes due 2026.
- The offering is expected to close on May 15, 2026.
- Liberty Utilities will terminate commitments under its $1.15 billion senior unsecured syndicated delayed draw term facility.