EDMONTON, AB--(Marketwired - December 18, 2015) -
NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S
Capital Power Corporation ("Capital Power") (
The Note Exchange transaction received strong support and was approved by more than 87% of the votes cast at the December 17, 2015 meeting of holders of CPLP Notes, voting as a single class.
As a result of the Note Exchange, the CPLP Notes have been cancelled and the following Capital Power Notes were issued in exchange for them:
- 4.85% Medium Term Notes of Capital Power due February 21, 2019, Series 1
- 5.276% Medium Term Notes of Capital Power due November 16, 2020, Series 2
The Note Exchange and additional steps to reorganize CPLP's capital structure were undertaken to simplify the organizational structure and reduce reporting obligations. The cessation of CPLP as a reporting issuer and transition of long-term credit ratings to only Capital Power will result in efficiencies for Capital Power while providing noteholders with better liquidity over time and structural enhancement. The timing of the Note Exchange follows the exchange of all remaining Exchangeable Common Limited Partnership Units of CPLP for shares of Capital Power by EPCOR Power Development Corporation on April 2, 2015.
RBC Capital Markets acted as the Solicitation Agent for the Note Exchange transaction.
About Capital Power
Capital Power (
Contact Information:
For more information, please contact:
Media Relations:
Michael Sheehan
(780) 392-5222
msheehan@capitalpower.com
Investor Relations:
Randy Mah
(780) 392-5305 or (866) 896-4636 (toll-free)
investor@capitalpower.com