Oglethorpe Power to Extend Exchange Offer Deadline for its 3.75 Percent First Mortgage Bonds Series 2020A

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May 05, 2021, 10:20 ET

TUCKER, Ga., May 5, 2021 /PRNewswire/ -- Oglethorpe Power Corporation (an Electric Membership Corporation) today announced that it will extend the deadline with respect to its exchange offer regarding its 3.75 percent First Mortgage Bonds, Series 2020A due 2050 (the "Original Bonds") [(CUSIP No: 677050 AP1 (144A) and 67685 AE4 (Reg. S)]. The exchange offer deadline, which was 5:00 p.m., New York City time, on May 4, 2021 will be extended to 5:00 p.m., New York City time, on May 5, 2021.

All other material terms of the exchange offer remain unchanged. Holders who have already properly tendered their Original Bonds do not need to retender.

Oglethorpe Power also announced that as of 5:00 p.m., New York City time, May 4, 2021, of the $450,000,000 aggregate principal amount of Original Bonds, $443,000,000 had been tendered.

U.S. Bank National Association is the exchange agent for the exchange offer, and also acts as trustee. Requests for exchange offer materials or questions relating to the exchange offer may be directed to U.S. Bank, Bondholder Communications at 800-934-6802.

For additional information regarding Oglethorpe Power, contact Joe Rick, Director, Capital Markets and Investor Relations at 770-270-7240.

About Oglethorpe Power

Oglethorpe Power is one of the nation's largest power supply cooperatives with more than $14 billion in assets serving 38 Electric Membership Corporations which, collectively, provide electricity to approximately 4.3 million Georgia residents. A proponent of conscientious energy development and use, Oglethorpe Power balances reliable and affordable energy with environmental responsibility and has an outstanding record of regulatory compliance. Its diverse energy portfolio includes natural gas, hydroelectric, coal and nuclear generating plants with a combined capacity of approximately 7,900 megawatts. Oglethorpe Power was established in 1974 and is owned by its 38 Member Systems. Its headquarters are in Tucker, Georgia, an Atlanta suburb.

SOURCE Oglethorpe Power Corporation