Algonquin Power, Utilities Unit Prices $1.15 Billion Debt Offering

MT Newswires Live
05/13

Algonquin Power & Utilities (AQN) said Tuesday its Liberty Utilities unit priced a sale of $1.15 billion in senior unsecured notes consisting of $650 million in 5.1% notes due 2031 and $500 million in 5.65% notes due 2036.

The company will use the capital to repay intercompany loans, enabling the parent firm to refinance $1.15 billion of debt due in 2026, it said.

Liberty plans to terminate a $1.15 billion term loan facility after the transaction closes Friday, it added.

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