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Otter Tail Corp — Capital/Financing Update 2009
Dec 1, 2009
31280_rns_2009-12-01_c45650c5-956b-499d-afb9-b7ff7521de86.zip
Capital/Financing Update
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Issuer Free Writing Prospectus Filed Pursuant to Rule 433 Registration No. 333-159137-99 December 1, 2009
OTTER TAIL CORPORATION
Pricing Term Sheet
$100,000,000 9.000% Notes due 2016
| Issuer: | Otter Tail Corporation |
|---|---|
| Size: | $100,000,000 |
| Maturity: | December 15, 2016 |
| Coupon (Interest Rate): | 9.000% |
| Yield to Maturity: | 9.000% |
| Spread to Benchmark Treasury: | T+628.7 bps |
| Benchmark Treasury: | 2.750% due November 30, 2016 |
| Benchmark Treasury Price and Yield: | $100-07+ / 2.713% |
| Interest Payment Dates: | June 15 and December 15, commencing |
| June 15, 2010 | |
| Redemption Provision: | T+50 bps |
| Price to Public: | 99.994% |
| Settlement Date: | T+3; December 4, 2009 |
| CUSIP / ISIN | 689648AR4 / US689648AR49 |
| Ratings*: | Ba1 by Moodys Investors Service, |
| Inc. BB+ by Standard & Poors | |
| Ratings Services BBB- Fitch | |
| Ratings, Inc. | |
| Joint Book-Running Managers | Banc of America Securities LLC J.P. Morgan Securities Inc. |
| Lead Manager | U.S. Bancorp Investments, Inc. |
| Co-Managers | BNP Paribas Securities Corp. KeyBanc Capital Markets Inc. Wells Fargo Securities, LLC |
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*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Banc of America Securities LLC and J.P. Morgan Securities Inc. can arrange to send you the prospectus if you request it by calling or e-mailing Banc of America Securities LLC at 1-800-294-1322 or [email protected] or by calling J.P. Morgan Securities Inc. collect at 1-212-834-4533.
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