Cleco Corporate Holdings LLC extends exchange offer for 3.375% Senior Notes due 2029
PINEVILLE, La. — June 19, 2020 — Cleco Corporate Holdings LLC announced today that it has extended the expiration date for its previously announced offer to exchange any and all of its $300,000,000 outstanding principal amount of 3.375% Senior Notes due 2029 (the “Outstanding Notes”) for an equal amount of new 3.375% Senior Notes due 2029 (the “Exchange Notes”) that have been registered under the Securities Act of 1933, as amended (the “Securities Act”). This registered exchange offer, which was initially scheduled to expire at 5:00 p.m., New York City time, on July 9, 2020, has been extended until 5:00 p.m., New York City time, on July 10, 2020. All other terms of the exchange offer, as described in the prospectus dated June 10, 2020, remain unchanged. As of June 18, 2020, no Outstanding Notes had been tendered for exchange.
The form and terms of the Exchange Notes will be identical in all material respects to the form and terms of the Outstanding Notes, except that (i) the Exchange Notes will be registered under the Securities Act and therefore will not bear legends restricting their transfer and (ii) specified rights under the registration rights agreement, including the provisions providing for registration rights and the payment of additional interest in specified circumstances, will be limited or eliminated. Holders that do not exchange their Outstanding Notes will continue to be subject to the existing restrictions on transfer and will not be permitted to offer or sell the Outstanding Notes except under an exemption from applicable securities laws.
The terms of the exchange offer are set forth in a prospectus dated June 10, 2020. Documents related to the exchange offer, including the prospectus and the associated letter of transmittal, have been filed with the Securities and Exchange Commission and may be obtained from the exchange agent, Regions Bank, at the following address:
Corporate Trust Operations
Lakeshore Operations Center
201 Milan Parkway, 2nd Floor
Birmingham, Alabama 35211
This press release shall not constitute an offer to exchange nor a solicitation of an offer to exchange the Outstanding Notes. The exchange offer is being made only by the prospectus dated June 10, 2020 and only to such persons and in such jurisdictions as is permitted under applicable law.
Cleco Corporate Holdings LLC is a regional energy holding company that conducts its business operations through its subsidiaries, Cleco Power LLC and Cleco Cajun LLC. Cleco Power is a regulated electric public utility company that owns 10 generating assets with a total nameplate capacity of 3,360 MWs and serves approximately 288,000 customers in Louisiana through its retail business and supplies wholesale power in Louisiana and Mississippi. Cleco Cajun is an unregulated utility company that owns eight generating assets with a total nameplate capacity of 3,555 MWs, with contracts serving nine Louisiana cooperatives, three wholesale municipal customers and one electric utility.