Algonquin Power (TSE:AQN) has released an update.
Algonquin Power & Utilities Corp. has successfully remarketed $1.15 billion of 1.18% Senior Notes, now with a 5.365% interest rate, set to mature on June 15, 2026. The remarketing will close on March 28, 2024, with proceeds aimed at purchasing treasury securities and eventually settling Purchase Contracts, which will in turn fund debt reduction and other corporate activities. This financial move is part of a broader strategy to manage the company’s capital structure.
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