Otter Tail to repay revolver with senior unsecured note proceeds

By Sara Rosenberg

New York, Nov. 30 - Otter Tail Corp. plans to reduce borrowings under its revolving credit facility using proceeds from the sale of a new series of senior unsecured notes in an underwritten registered public offering, according to a news release.

Remaining proceeds from the sale will be used for general corporate purposes.

Otter Tail is a Fergus Falls, Minn.-based diversified company with operations in electric utility, manufacturing, health services, food ingredient processing and infrastructure businesses, which include plastics, construction and transportation.

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