Capital Power Corporation priced an offering of C$600 million in Senior Unsecured Medium Term Notes on August 26, 2024. These Notes, part of Series 8, carry a 4.831% interest rate and are scheduled to mature on September 16, 2031. The Notes are fully guaranteed on a senior unsecured basis by each Material Subsidiary of the company that is or becomes a borrower under, or provides a guarantee with respect to, any Credit Facilities.

The net proceeds, estimated at C$597.78 million after a 0.37% commission, are intended for repaying, redeeming, or refinancing existing debt, including under Capital Power's credit facilities, or for general corporate purposes. The Notes have received credit ratings of “BBB-” from S&P Global Ratings and “BBB (low)” with a stable trend from DBRS Limited.

BMO Nesbitt Burns Inc. and National Bank Financial Inc. acted as Joint Lead & Joint Bookrunners, with a syndicate of dealers including TD Securities Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Merrill Lynch Canada Inc., ATB Securities Inc., MUFG Securities (Canada), Ltd., Desjardins Securities Inc., iA Private Wealth Inc., Mizuho Securities Canada Inc., and Casgrain & Company Limited. Legal counsel for Capital Power was Dentons Canada LLP, while Osler, Hoskin & Harcourt LLP advised the dealers. The transaction is expected to close on September 16, 2024.