BOSTON, Oct. 26, 2011 /PRNewswire/ -- Atlantic Power
Corporation (NYSE: AT) (TSX: ATP) (the "Company" or "Atlantic
Power") announced today that its previously announced offering of
US$460.0 million aggregate
principal amount of senior notes due 2018 (the "Notes") priced
today with a coupon of 9.0%, at an issue price of 97.471%.
The Notes have been offered and will be sold to qualified
institutional buyers in reliance on Rule 144A under the Securities
Act of 1933, as amended (the "Securities Act"), and to non-U.S.
persons outside of the United
States in compliance with Regulation S under the
Securities Act. The Notes will be senior unsecured obligations of
the Company, guaranteed by certain subsidiaries of the Company (the
"Guarantors").
The Company intends to use the net proceeds from the offering of
the Notes to fund a portion of the cash portion of its acquisition
of all of Capital Power Income L.P., to pay the related fees and
expenses incident thereto, to repay indebtedness outstanding under
Capital Power Income L.P.'s revolving credit facilities and, to the
extent of any remaining net proceeds, to fund additional growth
opportunities and for general corporate purposes.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes. The Notes have not been
registered under the Securities Act, or the securities laws of any
other jurisdiction. Unless so registered, the Notes may not be
offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and the applicable securities
laws of any other jurisdiction.
This press release may include forward-looking statements.
Forward-looking statements involve risks and uncertainties. These
statements, which are based on certain assumptions and describe
Atlantic Power's future plans, projections, strategies and
expectations, can generally be identified by the use of the words
"outlook," "objective," "may," "will," "should," "could," "would,"
"plan," "potential," "estimate," "project," "continue," "believe,"
"intend," "anticipate," "expect," "target" or the negatives of
these words and phrases or similar expressions that are predictions
of or indicate future events or trends and which do not relate
solely to present or historical matters. In particular, Atlantic
Power's intention and ability to complete the acquisition of
Capital Power Income L.P., to consummate the offering of the Notes
and to use the proceeds from the offering as described above
constitute forward-looking statements. Such forward-looking
statements reflect Atlantic Power's current expectations regarding
future events and speak only as of the date of this news release.
Such forward-looking statements are based on a number of
assumptions which may prove to be incorrect. The completion of the
offering of the Notes will be subject to market conditions and the
intended use of proceeds from the offering may change from that
described herein. 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 "Risk factors" in Atlantic
Power's Annual Report on Form 10-K, as filed with the Securities
and Exchange Commission, on March 18,
2011 and under Atlantic Power's profile on SEDAR at
www.sedar.com. 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's
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 events or circumstances.
SOURCE Atlantic Power Corporation