Atlantic Power Corporation in Cdn$100 Million Convertible Debenture Offering

December 11, 2012

Cleary Gottlieb represented Atlantic Power Corporation in its Cdn$100 million offering of 6.00% extendible convertible unsecured subordinated debentures due 2019.

The offering was a takedown from Atlantic Power Corporation’s shelf registration statement and was an underwritten public offering on a bought deal basis in Canada. The deal priced on November 29 and closed on December 11. TD Securities Inc. and BMO Capital Markets acted as joint book-running managers for the offering and the dealer syndicate included six other financial institutions.

Atlantic Power Corporation is a power generation and infrastructure company. Its power generation projects sell electricity to utilities and other large commercial customers under long-term power purchase agreements. The company’s current portfolio consists of interests in 30 operational power generation projects across 11 states in the United States and two provinces in Canada and an 84 mile 500-kilovolt electric transmission line located in California. The proceeds from this offering will be used to purchase a power generation project located in Idaho.