Otter Tail extends two revolvers to 2024, lifts one to $170 million

By Sarah Lizee

Olympia, Wash., Nov. 5 – Otter Tail Corp. amended its credit agreement on Oct. 31, increasing the revolver to $170 million from $130 million and extending the termination date to Oct. 31, 2024 from Oct. 31, 2023, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also provides that the company can increase the amount of the facility to $290 million, subject to some terms and conditions, and makes some immaterial changes consistent with provisions in similar agreements.

Otter Tail Power Co., a wholly owned subsidiary of the company, extended its $170 million revolver to Oct. 31, 2024 from Oct. 31, 2023.

U.S. Bank, NA is the administrative agent for the revolvers.

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

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