Otter Tail extends pair of revolvers totaling $300 million to 2021

By Wendy Van Sickle

Columbus, Ohio, Nov. 3 – Otter Tail Corp. extended its revolving credit agreement entered in October 2012 with U.S. Bank NA as administrative agent by one year to Oct. 29, 2021 and reduced commitments thereunder by $20 million to $130 million, according to an 8-K filed with the Securities and Exchange Commission.

The amendment to the credit agreement took place on Monday.

Also on Monday, subsidiary Otter Tail Power Co. extended its $170 million revolving line of credit by a year to Oct. 29, 2021.

That credit agreement was also entered in October 2012 with U.S. Bank as agent.

The Fergus Falls, Minn.-based company operates in six segments: electric, plastics, manufacturing, health services, food ingredient processing and other business operations.

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