CLECO CORPORATE HOLDINGS LLC (NYSE:CNL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
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Item 1.01. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
As previously reported in its Current Report on Form 8-K filed with the Securities and Exchange Commission on December 21, 2017 (the “Prior 8-K”), Cleco Power LLC (“Cleco Power”), a wholly owned subsidiary of Cleco Corporate Holdings LLC, entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with the purchasers named therein (the “Purchasers”) for the issuance and sale in a private placement of an aggregate principal amount of $175.0 million of unsecured senior notes (the “Offering”) consisting of $25.0million aggregate principal amount of 2.94% Senior Notes due December 16, 2022 (the “2022 Notes”), $100.0 million aggregate principal amount of 3.08% Senior Notes due December 16, 2023 (the “2023 Notes”), and $50.0 million aggregate principal amount of 3.17% Senior Notes due December 16, 2024 (the “2024 Notes” and together with the 2022 Notes and the 2023 Notes, the “senior notes”).
On December 18, 2017, Cleco Power completed an initial closing of the Offering and sold and issued to certain of the Purchasers an aggregate principal amount of $125.0 million of its senior notes consisting of the 2022 Notes and the 2023 Notes. On March 26, 2018, Cleco Power issued and sold to certain of the Purchasers the remaining $50.0 million aggregate principal amount of the 2024 Notes.
A description of the terms and conditions of the senior notes and a copy of the Note Purchase Agreement were previously filed with the Prior 8-K, which is hereby incorporated herein by reference. The foregoing does not purport to be a complete description of the Note Purchase Agreement, and is qualified in its entirety by reference to the full text of the Note Purchase Agreement which was filed as Exhibit 10.1 to the Prior 8-K.
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CLECO CORPORATE HOLDINGS LLC |
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Date: March 26, 2018 |
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/s/ Tonita Laprarie |
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Tonita Laprarie |
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Controller and Chief Accounting Officer |
About CLECO CORPORATE HOLDINGS LLC (NYSE:CNL)
Cleco Corporate Holdings LLC, formerly Cleco Corporation, is a public utility holding company. The Company’s segments include Cleco Power and Other. Cleco Power is a regulated electric utility company that owns over 10 generating units with a total nameplate capacity of approximately 3,330 megawatts (MW) and serves approximately 287,000 customers in Louisiana through its retail business and supplies wholesale power in Louisiana and Mississippi. The Company, through its subsidiaries, owns one transmission substation in Louisiana and one transmission substation in Mississippi. Cleco Power is engaged in the generation, transmission, distribution and sale of electricity within Louisiana. It owns natural gas pipelines and interconnections at all of its generating facilities, which allow it to access various natural gas supply markets and maintain an economical fuel supply for its customers. The Company holds investments in its subsidiary, Cleco Power LLC (Cleco Power).