Hunton Andrews Kurth Advises on Cleco Power LLC’s Floating Rate Senior Notes Offering

Time 1 Minute Read
September 10, 2021
News

Hunton Andrews Kurth LLP advised CIBC World Markets Corp. and SMBC Nikko Securities America, Inc., as initial purchasers, in connection with the sale by Cleco Power LLC (Cleco Power) of $325 million aggregate principal amount of Floating Rate Senior Notes due 2023 in a private placement under Regulation S and Rule 144A of the Securities Act of 1933, as amended, to eligible purchasers. The transaction closed on September 10, 2021.

Cleco Power is a wholly owned regulated electric utility subsidiary of Cleco Corporate Holdings LLC that engages principally in the generation, transmission, distribution, and sale of electricity within Louisiana. As of June 2021, Cleco Power owned 10 generating units with a total rated capacity of 3,360 megawatts and served approximately 290,000 customers in Louisiana through its retail business. Additionally, Cleco Power supplies wholesale power in Louisiana and Mississippi.

The Hunton Andrews Kurth team included Pete O’Brien, Adam R. O’BrianPatrick C. Jamieson, S. Ashley Jaber and Reuben H. Pearlman. Robert McNamara and Tim Strother provided tax advice. Leslie Okinaka provided ERISA advice.

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