The $70 million note issuance was fully pre-announced in March 2026 and represents a routine capital markets transaction for a regulated utility. No new information on leverage or credit quality — monitor upcoming quarterly filings for updated debt-to-capitalization ratios.
Price Chart
Executive Summary
Otter Tail's wholly owned subsidiary, Otter Tail Power Company, issued $70 million of 6.04% Series 2026B Senior Unsecured Notes due 2056 in a private placement, completing a previously announced $170 million note purchase agreement. Proceeds will fund capital expenditures, refinance existing debt, and for general corporate purposes. This is a routine debt issuance with no material change to the company's financial profile beyond what was already disclosed in March 2026.
Key Facts
- Otter Tail Power Company issued $70 million of 6.04% Series 2026B Senior Unsecured Notes due June 4, 2056
- Issuance completes the $170 million private placement first disclosed in a March 23, 2026 8-K
- Proceeds to fund capital expenditures, refinance existing indebtedness, and for general corporate purposes
- Notes are senior unsecured obligations of OTP, a wholly owned subsidiary of Otter Tail Corp
- Covenants limit OTP's Interest-bearing Debt to 65% of Total Capitalization and Priority Indebtedness to 20% of Total Capitalization
Financial Impact
$70 million in new long-term debt at 6.04% fixed rate, maturing in 2056
Risk Factors
- Higher interest expense from the 6.04% coupon could pressure net income if not offset by regulated rate recovery
- Debt-to-capitalization covenant (65% max) limits future borrowing capacity at the subsidiary level
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001466593-26-000061 |
| Document: 0001466593-26-000061-index-headers.html | 0001466593-26-000061 |
| Document: 0001466593-26-000061-index.html | 0001466593-26-000061 |
| Document: 0001466593-26-000061.txt | 0001466593-26-000061 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 8w ago | 8-K | $89.59 $88.04 | ▼ −1.73% | ▼ −2.05% | $89.87 (+0.31%) |
Aug 4, 2026 12w ago | 8-K | $92.82 $89.59 | ▲ +3.48% | ▲ +2.24% | $89.87 (+3.18%) |
Jun 18, 2026 18w ago | 8-K | $87.50 $93.26 | ▼ −6.58% | ▼ −6.05% | $89.87 (−2.71%) |
Jun 5, 2026 20w ago | 8-K | $86.77 $90.49 | ▲ +4.29% | ▲ +2.43% | $89.87 (+3.57%) |
May 29, 2026 21w ago | 8-K | $86.66 $88.87 | ▲ +2.55% | ▲ +4.34% | $89.87 (+3.70%) |
May 15, 2026 23w ago | 8-K | $87.80 $89.59 | ▲ +2.04% | ▼ −0.08% | $89.87 (+2.36%) |
May 5, 2026 25w ago | 8-K | $88.74 $85.80 | ▼ −3.31% | ▼ −8.27% | $89.87 (+1.27%) |
Apr 14, 2026 27w ago | 8-K | $88.33 $88.29 | ▼ −0.05% | ▼ −6.34% | $89.87 (+1.74%) |
Mar 2, 2026 34w ago | DEFA14A | $85.70 $85.73 | ▲ +0.04% | ▲ +7.97% | $89.87 (+4.87%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers