Northland Power to redeem 4.75% convertibles on May 11

By Wendy Van Sickle

Columbus, Ohio, April 6 – Northland Power Inc. will redeem its 4.75% convertible unsecured subordinated debentures, series C, due June 30, according to a news release.

The company will redeem the debentures on May 11 at par plus accrued interest.

Holders may convert their debentures into common shares of Northland at a conversion price of $21.60 per common share until 5 p.m. ET on the last business day immediately preceding the redemption date.

The company’s stock closed at C$29.19 on Monday.

Northland Power is a Toronto-based independent power producer that builds, owns and operates natural gas and green energy facilities.

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