Cleco Corporate Holdings LLC on Sept. 11 closed the sale of $300 million of its 3.375% senior notes due 2029.
Interest on the notes is payable semiannually in arrears every March 15 and Sept. 15, starting March 15, 2020.
The company plans to use net proceeds from the private offering to repay the remaining balance of a $300 million bridge loan facility to help finance Cleco's acquisition of the 3,555-MW NRG South Central Generating LLC portfolio from NRG Energy Inc. and to settle a portion of a $100 million term loan facility.
Mizuho Securities USA LLC, Scotia Capital (USA) Inc. and Credit Agricole Securities (USA) Inc. were the initial purchasers of the notes.
