Algonquin Power & Utilities mulls subordinated debt offerings in US, Canada
Algonquin Power & Utilities (AQN
-1.5%) said it is considering an underwritten public offering in the U.S. of U.S. dollar denominated fixed-to-fixed reset rate junior subordinated notes series 2022-B due 2082.
It is also mulling an underwritten public offering in Canada of Canadian dollar denominated fixed-to-fixed reset rate junior subordinated notes series 2022-A due 2082.

Net proceeds are expected to be used to reduce amounts outstanding under existing credit facilities, and partially finance its acquisition of Kentucky Power and AEP Kentucky TransCo.
The completion of the offerings is not contingent on the success of any other offering.

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