DEDHAM, Mass., Feb. 14, 2018 /CNW/ -- Atlantic Power
Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the
"Company") issued a redemption notice on February 2, 2018 to redeem, on March 7, 2018, the aggregate principal amount of
Cdn$56,240,906 of the Cdn$80,978,000 of its then outstanding 6.00%
series D extendible convertible unsecured subordinated debentures
due December 31, 2019 (the "Series D
Debentures"), on a pro rata basis. The record date for the
partial redemption has been set as the close of business on
March 6, 2018 and the Series D
Debentures will commence trading on the Toronto Stock Exchange on a
post-redemption basis as of the opening of business on March 5, 2018.
On redemption, holders of the Series D Debentures will receive
Cdn$1,011 for each Cdn$1,000 principal amount of Series D Debentures
so redeemed, being the principal amount thereof plus accrued and
unpaid interest to, but excluding the date of the redemption (the
"Redemption Price"). The Series D Debentures are represented
by a global debenture certificate registered to CDS & Co.
Consequently, beneficial holders of the Series D Debentures
redeemed need not take any action in order to receive the
Redemption Price.
The Company also issued a redemption notice on January 29, 2018 to redeem, on March 5, 2018, the aggregate principal amount of
US$42,532,000 of the US$42,532,000 of its then outstanding 5.75%
series C convertible unsecured subordinated debentures due
June 30, 2019 (the "Series C
Debentures").
This press release was issued at the request of the Toronto
Stock Exchange. For more information on the redemption of the
Series C Debentures and Series D Debentures, please refer to the
Company's Form 8-K dated January 29,
2018 available under the Company's profile on SEDAR at
www.sedar.com or by visiting EDGAR on the SEC website at
www.sec.gov.
For more information, please contact:
Atlantic Power Corporation
Investor Relations
(617) 977-2700
info@atlanticpower.com
Cautionary Note Regarding Forward-Looking Statements
This news release may include forward-looking statements within
the meaning of the U.S. federal securities laws and forward-looking
information under Canadian securities laws (referred to as
"forward-looking statements"). These statements can generally be
identified by the use of the words "outlook," "objective," "may,"
"will," "expect," "intend," "estimate," "anticipate," "believe,"
"should," "plans," "continue" or similar expressions suggesting
future outcomes or events. Forward-looking statements reflect
Atlantic Power's current expectations regarding future events and
speak only as of the date of this news release. These
forward-looking statements are based on a number of assumptions
which may prove to be incorrect. Forward-looking statements involve
significant risks and uncertainties, should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not or the times
at or by which such performance or results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, but not limited to, the factors discussed under
"Cautionary Statement Regarding Forward-Looking Statements" and
"Risk Factors" in the filings Atlantic Power makes from time
to time with the SEC and Canadian securities regulators. Atlantic
Power's business is both competitive and subject to various risks.
Although the forward-looking statements contained in this news
release are based upon what Atlantic Power believes to be
reasonable assumptions, investors cannot be assured that actual
results will be consistent with these forward-looking statements,
and the differences may be material. Therefore, investors are urged
not to place undue reliance on Atlantic Power's forward-looking
statements. These forward-looking statements are made as of the
date of this news release and, except as expressly required by
applicable law, Atlantic Power assumes no obligation to update or
revise them to reflect new information, future events or
otherwise.
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SOURCE Atlantic Power Corporation