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Cleco launches exchange offer for $885M of senior notes

Cleco Corporate Holdings LLC is offering to exchange up to $885 million of its outstanding senior notes for a like amount of its registered notes.

The company will exchange up to $535 million of its 3.743% senior secured notes due 2026 and up to $350 million of its 4.973% senior notes due 2046.

The exchange offer expires April 25 at 5 p.m. ET unless extended. The company will not receive any proceeds from the exchange offer, according to a March 29 filing.

Wells Fargo Bank NA is acting as the exchange agent.