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Algonquin Power Co. Announces Green Bond Offering
Algonquin Power Co. Announces Green Bond Offering Canada NewsWire /NOT ...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n \n \n \n Algonquin Power Co. Announces Green Bond Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISSEMINATION OR DISTRIBUTION IN\n \n THE UNITED STATES\n \n AND NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR TO U.S. PERSONS/\n \n \n \n OAKVILLE, ON\n \n ,\n \n April 6, 2021\n \n /CNW/ - Algonquin Power Co., a subsidiary in the Liberty Renewable Energy Group of Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN)  (\"Liberty Power\") announced today that it has offered for sale\n \n C$400 million\n \n 2.85% senior unsecured debentures with a maturity date of\n \n July 15, 2031\n \n (the \"Liberty Power Debentures\") pursuant to a private placement in\n \n Canada\n \n (the \"Offering\"). The Liberty Power Debentures were offered at a price of\n \n C$999.92\n \n per\n \n C$1,000\n \n principal amount.\n \n \n The Liberty Power Debenture Offering is a \"green bond\" offering. Under AQN's Green Financing Framework, the proceeds of the Offering will be used to finance and/or refinance investments in renewable power generation and clean energy technologies. This is\n \n Liberty Power's\n \n second \"green bond\" offering and aligns with AQN's commitment to advancing a sustainable energy and water future. The Green Financing Framework is available on AQN's website\n \n www.algonquinpower.com\n \n \n \n Concurrent with the Offering,\n \n Liberty Power\n \n is entering into a cross currency swap, coterminous with the Liberty Power Debentures, to convert the Canadian dollar denominated proceeds from the Offering into U.S. dollars, resulting in an effective interest rate throughout the term of the Liberty Power Debentures of approximately 2.83%.\n \n \n Liberty Power Debentures are expected to receive final ratings of BBB (stable) by Standard & Poor's Financial Services LLC, BBB (stable) by Fitch Ratings Inc. and BBB (stable) by DBRS Limited.\n \n \n The Liberty Power Debentures are being offered through a syndicate of agents led by CIBC World Markets Inc. and National Bank F...