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BRIEF-Northland Power Announces Acquisition Of Colombian Regulated Utility Business For $1.05 Bln

Published 2019-09-09, 03:44 p/m
© Reuters.  BRIEF-Northland Power Announces Acquisition Of Colombian Regulated Utility Business For $1.05 Bln
NPI
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Sept 9 (Reuters) - Northland Power Inc NPI.TO :

* NORTHLAND POWER ANNOUNCES ACQUISITION OF COLOMBIAN REGULATED UTILITY BUSINESS FOR $1.05 BILLION AND CONCURRENT $315 MILLION EQUITY FINANCING

* NORTHLAND POWER INC - ACQUISITION WILL BE FUNDED INITIALLY WITH A FULLY COMMITTED 12-MONTH $1.1 BILLION BRIDGE FACILITY.

* NORTHLAND - EBSA DEAL GENERATES AVERAGE MID-SINGLE DIGIT ACCRETION TO FREE CASH FLOW PER SHARE DURING CURRENT PERIOD ENDING 2023

* NORTHLAND POWER INC - TO PURCHASE A 99.2% INTEREST IN COLOMBIAN REGULATED UTILITY EMPRESA DE ENERGÍA DE BOYACÁ

* NORTHLAND POWER INC - BASED ON SUBMITTED TARIFF, EBSA IS EXPECTED TO CONTRIBUTE ADJUSTED EBITDA IN 2020 OF APPROXIMATELY COP 255 BILLION

* NORTHLAND POWER INC - INTENDS TO PERMANENTLY FINANCE ACQUISITION THROUGH $315 MILLION OF GROSS PROCEEDS IN COMMON EQUITY

* NORTHLAND POWER INC - INTENDS TO PERMANENTLY FINANCE ACQUISITION THROUGH $450 TO $500 MILLION OF NON-RECOURSE DEBT FINANCING SUPPORTED BY EBSA BUSINESS

* NORTHLAND POWER INC - BALANCE OF ACQUISITION WILL BE FUNDED WITH CASH ON HAND AND BORROWINGS UNDER NORTHLAND'S CORPORATE CREDIT FACILITIES

* NORTHLAND POWER INC - UNDERWRITERS TO PURCHASE 12.99 MILLION SUBSCRIPTION RECEIPTS AT $24.25/SUBSCRIPTION RECEIPT

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