OTTR Otter Tail Corp
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.
Actionable Insight
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.
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
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 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 5, 2026
7d ago
|
8-K
| $87.39 awaiting T+5 | awaiting T+5 | — | $89.59 (+2.52%) |
|
May 29, 2026
14d ago
|
8-K
| $86.66 $85.77 | ▼ −1.03% | ▼ −0.73% | $89.59 (+3.38%) |
|
May 15, 2026
28d ago
|
8-K
| $87.80 $87.35 | ▼ −0.51% | ▼ −1.48% | $89.59 (+2.04%) |
|
May 5, 2026
5w ago
|
8-K
| $88.74 $88.29 | ▼ −0.51% | ▼ −2.49% | $89.59 (+0.96%) |
|
Apr 14, 2026
8w ago
|
8-K
| $88.33 $87.22 | ▼ −1.26% | ▼ −2.65% | $89.59 (+1.43%) |
|
Mar 2, 2026
14w ago
|
DEFA14A
| $85.70 $87.93 | ▲ +2.60% | ▲ +3.81% | $89.59 (+4.54%) |
US Market Status
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