Capital Power U.S. Financing Completes Private Placement Offering

Capital Power U.S. Financing LP, an indirect subsidiary of Capital Power L.P. (a limited partnership that directly and indirectly holds substantially all of Capital Power Corporation's assets, TSX: CPX.TO), completed a private placement offering in the United States of US$295 million principal amount of long term senior unsecured debt securities (“notes”) to certain US institutional investors (collectively, the “Purchasers”). The notes are guaranteed by Capital Power L.P. and its general partner, Capital Power GP Holdings Inc. (collectively with the Issuer, the “Capital Power entities”).

Bank of America Merrill Lynch was the sole placement agent for the offering.

The net proceeds from the notes will primarily be used to fund growth initiatives including the recent acquisitions of three New England facilities and for general corporate purposes.

The Capital Power entities were advised by Kathryn Chisholm (Senior Vice President, General Counsel and Corporate Secretary), Leah Fitzgerald (Associate General Counsel and Assistant Corporate Secretary), Patricia Leeson (Senior Legal Counsel) and Bruce McPherson (Legal Counsel, Corporate).

Fraser Milner Casgrain LLP, provided external legal advice to the Capital Power entities with a team lead by Bill Jenkins which included Stephanie Campbell, Bill Gilliland and Elizabeth Burton. The Issuer was also advised on US matters by K&L Gates LLP with a team including Kristy Harlan, Kurt Decko and Karrie Johnson Diaz.

Special Canadian Counsel to the Purchasers was Macleod Dixon LLP with a team led by Howard MacKichan and in-cluding Darren Heuppelsheuser, Don Tse and Danielle Maksimow. Special US counsel to the Purchasers was Charles Kolin of Chapman and Cutler LLP.


Stephen Campbell Don Tse Darren D. Hueppelsheuser Patricia Leeson Leah Fitzgerald Danielle L. Maksimow B. Kathryn Chisholm Howard E. MacKichan Charles Kolin Elizabeth Burton


Dentons Canada LLP K&L Gates LLP Norton Rose Fulbright Canada LLP Chapman and Cutler LLP