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Cleco Power sells $50M of senior notes in private placement

Cleco Power LLC on March 26 closed the sale of $50 million of its 3.17% senior notes due Dec. 16, 2024, in a private placement.

The sale was part of the $175 million private placement of senior notes the Cleco Corporate Holdings LLC subsidiary announced in December 2017. Cleco Power previously sold $25 million of its 2.94% notes due Dec. 16, 2022, and $100 million of its 3.08% notes due Dec. 16, 2023, on Dec. 18, 2017.

The company plans to use net proceeds for capital investments and general corporate purposes.