Simpson Thacher is representing Capital Power Corporation (“Capital Power” or the “Company”) in its private offering of US$700 million aggregate principal amount of 5.257% senior notes due 2028 (the “2028 Notes”) and US$500 million aggregate principal amount of 6.189% senior notes due 2035 (the “2035 Notes” and, collectively, the “Notes”) to be issued by Capital Power (US Holdings) Inc., a U.S. wholly-owned subsidiary of the Company. The offering is being conducted pursuant Rule 144A and Regulation S under the Securities Act of 1933, as amended, and is expected to close on or about May 28, 2025, subject to customary conditions.
The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for the previously announced acquisition of 100% of the equity interests in Hummel Station, LLC, which owns the 1,124 MW Hummel Station, a combined-cycle natural gas facility in Shamokin Dam, Pennsylvania, and 100% of the equity interests in Rolling Hills Generating, L.L.C., which owns the 1,023 MW Rolling Hills plant, a combustion turbine natural gas facility in Wilkesville, Ohio (together, the “Acquisition”). Simpson Thacher is also representing Capital Power in connection with the Acquisition.
Capital Power is a growth-oriented power producer with approximately 10 GW of power generation at 30 facilities across North America.
The Simpson Thacher team includes Brian Rosenzweig, Richie Ragusa, Jesse Feng, Lidia Kurganova and Andrew Scattergood (Capital Markets); Jonathan Cantor and Sean Largey (Tax); George Gerstein (ERISA); and Ron Ben-Yehuda and Alex Kokka (IP).