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Cleco Announces Commencement of Exchange Offer for its 3.743% Senior Secured Notes due 2026 and 4.973% Senior Secured Notes due 2046

PINEVILLE, La., March 29, 2017 /PRNewswire/ -- Cleco Corporate Holdings LLC ("Cleco") announced today that it has commenced an offer to exchange all of its outstanding 3.743% Senior Secured Notes due 2026 and 4.973% Senior Secured Notes due 2046 (together, the "Original Notes"), which are not registered under the Securities Act of 1933, as amended (the "Securities Act"), for an equal principal amount of newly issued 3.743% Senior Secured Notes due 2026 and 4.973% Senior Secured Notes due 2046 that have been registered under the Securities Act (together, the "Exchange Notes").

The Exchange Notes are substantially identical to the Original Notes, except that the Exchange Notes have been registered under the Securities Act and will not bear any legend restricting their transfer. The Exchange Notes will be issued only upon cancellation of a like amount of currently outstanding Original Notes. Cleco will not receive any proceeds from the exchange offer.

Cleco is making this exchange offer to satisfy its obligations under a registration rights agreement entered into when it issued the Original Notes. Any Original Notes not tendered for exchange in the exchange offer will remain outstanding and continue to accrue interest, and Cleco will have no further obligation to provide for the registration of such notes under the Securities Act, except under certain limited circumstances.

Pursuant to the terms of the exchange offer, Cleco will accept for exchange any and all Original Notes validly tendered and not withdrawn prior to 5:00 p.m., New York City time, on April 25, 2017 (the "Expiration Date"), unless extended. Tenders of Original Notes may be withdrawn at any time prior to 5:00 p.m., New York City time, on the Expiration Date.

The terms of the exchange offer and other information relating to Cleco are set forth in a prospectus dated March 29, 2017. Copies of the prospectus and the related letter of transmittal may be obtained from Wells Fargo Bank, N.A., which is serving as the exchange agent for the exchange offer. Wells Fargo Bank, N.A. can be contacted at:




By Air Courier Service:


By Registered or Certified Mail:



Wells Fargo Bank, N.A.

Corporate Trust Operations

MAC N9300-070

600 Fourth Street South, 7th Floor

Minneapolis, MN 55479


Wells Fargo Bank, N.A.

Corporate Trust Operations

MAC N9300-070

PO BOX 1517

Minneapolis, MN 55480-1517


By Facsimile Transmission:

612-667-6282

By Telephone:

1-800-344-5128

 

This press release does not constitute an offer to purchase any securities or the solicitation of an offer to sell any securities. The exchange offer is being made only pursuant to the prospectus dated March 29, 2017, and the related letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

Forward-Looking Statements

This press release includes "forward-looking statements," which are statements other than statements of historical fact and are often characterized by the use of words such as "believes," "expects," "estimates," "projects," "may," "will," "intends," "plans" or "anticipates," or by discussions of strategy, plans or intentions. All forward-looking statements in this press release are made based on management's current expectations and estimates, which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. Among the important factors that could cause actual results to differ materially from those results indicated in the forward-looking statements include uncertainties relating to market conditions for corporate debt securities generally and for the securities of Cleco in particular.

General Information

Cleco is a regional energy company that conducts substantially all of its business operation through its primary subsidiary, Cleco Power. Cleco Power is a regulated electric utility company that owns nine generating units with a total nameplate capacity of 3,310 MWs and serves approximately 288,000 customers in Louisiana through its retail business and supplies wholesale power in Louisiana and Mississippi.

Contact:

Kristin Guillory
318-484-7715
kristin.guillory@cleco.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cleco-announces-commencement-of-exchange-offer-for-its-3743-senior-secured-notes-due-2026-and-4973-senior-secured-notes-due-2046-300431491.html