Algonquin Power (TSE:AQN) has released an update.
Algonquin Power & Utilities Corp. has successfully completed the remarketing of its 1.18% Senior Notes due in 2026, which will now carry an interest rate of 5.365% until maturity. The proceeds from this transaction, which is expected to close on March 28, 2024, will not go directly to the company but will be used to purchase treasury securities and eventually settle purchase contracts. This financial maneuver is part of the company’s strategy to reduce existing debt and support general corporate activities.
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