Cleco PowerLLC plans to voluntarily delist its 6.50% senior notes due Dec. 31,2035, from the NYSE, saying the administrative burdens outweigh the benefits ofmaintaining the listing.
The senior notes are the only securities of any Clecoaffiliate listed on the NYSE, following the company's by a -led investor group.
The delisting will be effective on the 10th day followingthe filing of a Form 25 with SEC, according to a July 8 news release.
After the delisting, noteholders will continue to conductbusiness with and receive payments through trustee The Bank of New York MellonTrust Co. The notes will also continue to be traded over-the-counter.