Algonquin Power & Utilities’ Registered Fixed to Fixed Reset Junior Subordinated Notes Offering

Cravath represented the underwriters in connection with the $750 million registered fixed-to-fixed reset junior subordinated notes offering of Algonquin Power & Utilities Corp. Through its subsidiaries, Algonquin Power & Utilities Corp. owns and operates a portfolio of regulated and non-regulated generation, distribution and transmission utility assets in Canada and the United States. Proceeds of the offering will be partially used to finance the acquisition of Kentucky Power by Algonquin Power & Utilities Corp. The transaction closed on January 18, 2022.

The Cravath team included partners Andrew J. Pitts and C. Daniel Haaren and associates Carol S. Lin and Paul D. Kim on capital markets matters, and partner Andrew T. Davis and associate Kyle R. Jorstad on tax matters. Harlea A. Perdue also worked on capital markets matters and Jamie H. Lee also worked on tax matters.