Capital Power announces a C$600 million medium term note offering and its intention to redeem C$300 million of medium term notes

Executive Summary

• Capital Power priced a C$600 million unsecured medium‑term note offering at 4.231% interest, maturing Jan 14 2033.
• The company will redeem its outstanding C$300 million January 2026 notes (4.986%) on Nov 23‑24 2025 at par plus accrued interest.
• Net proceeds are earmarked to refinance existing debt—including the January 2026 notes, project‑level debt at Goreway Power Station, and credit facilities—or for general corporate purposes.

Key Details

• Offering Size & Terms: C$600 million aggregate principal; interest 4.231%; maturity Jan 14 2033.
• Pricing & Closing: Offering priced on Nov 5 2025; expected closing on or about Nov 14 2025.
• Use of Proceeds: Repay, redeem, or refinance existing indebtedness (including full redemption of January 2026 notes), fund project‑level debt at Goreway Power Station, support credit facilities, and general corporate purposes.
• Credit Ratings: Provisional ratings – BBB‑ (S&P), BBB‑ (Fitch), BBB (low) stable (DBRS).
• Underwriting Syndicate: Co‑led by Scotia Capital Inc. and National Bank Financial Inc.; offered under Capital Power’s short‑form base shelf prospectus (dated June 12 2024, supplemented June 17 2024).
• Redemption Notice: All outstanding January 2026 medium‑term notes (C$300 million) to be redeemed on Nov 23 2025 (payment on Nov 24 2025 as the 23rd is not a business day). Redemption price C$1,000 per C$1,000 principal plus accrued interest.
• Regulatory Disclosures: Offering made under Canadian securities regulations; U.S. securities law disclaimer included.

Notable Quotes

(No executive quotes were provided in the release.)