Brief: Capital Power Announces Strategic Acquisition Of Two Contracted Combined-Cycle U.S. Gas Generation Facilities And A $400 Million Subscription Receipts Offering

Capital Power

20/11/2023 21:52

Nov 20 (Reuters) - Capital Power Corp  CPX.TO :
    * CAPITAL POWER ANNOUNCES STRATEGIC ACQUISITION OF TWO
CONTRACTED
COMBINED-CYCLE U.S. GAS GENERATION FACILITIES AND A $400 MILLION
SUBSCRIPTION RECEIPTS OFFERING
    * CAPITAL POWER CORP - PROPOSED DEAL FOR US$1.1 BILLION
    * CAPITAL POWER CORP- DEAL EXPECTED TO BE ACCRETIVE TO AFFO
PER
SHARE IN FIRST FULL YEAR OF OWNERSHIP AND EXPECTED 5-YEAR
AVERAGE ACCRETION OF 8%
    * CAPITAL POWER CORP - ACQUISITIONS ARE EXPECTED TO GENERATE
AVERAGE ANNUAL ADJUSTED EBITDA OF APPROXIMATELY $265 MILLION FOR
2024-2028 PERIOD
    * CAPITAL POWER -  DEALS ESTIMATED TO BE, ON AVERAGE, 8%(5)
ACCRETIVE TO AFFO PER SHARE OVER 2024-2028 PERIOD BASED ON
EXPECTED PERMANENT FINANCING
    * CAPITAL POWER-NET PROCEEDS FROM CO'S CONCURRENT $400MLN
SUBSCRIPTION RECEIPT OFFERING, SEES TO FULLY ADDRESS PLANNED
DISCRETE EQUITY FUNDING FOR DEALS

Source text for Eikon:  ID:nGNX4rFq7j 
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