Private placement issuance well-received by investors

Great River Energy was successful in the capital markets last month, as the cooperative secured important funding for its construction program.

Great River Energy launched and priced a private placement note offering securing $250 million in long-term financing at a favorable interest rate. Strong investor interest, including bids from three new purchasers, resulted in a competitive credit spread in a crowded market.

“The investor commitments and interest rate we secured are a positive reflection of our strong market position, sound strategies and long-term contracts with our member-owners,” said Great River Energy Treasury Services Director Tim Faulkner. “This favorable financing will help keep rates competitive as we enter a period of increased capital investment.”

Great River Energy expects to make significant capital investments in the years ahead, driven primarily by regional transmission projects.