Capital Power announces increased size and closing of C$150 million offering of 5.75% Cumulative Minimum Rate Reset Preferred
Shares
EDMONTON, AB --(Marketwired - August 09, 2017) -
NOT FOR DISTRIBUTION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES
Capital Power Corporation ("Capital Power") (TSX: CPX) announced today that it has
closed its previously announced offering of Cumulative Minimum Rate Reset Preference Shares, Series 9 (the "Series 9 Shares") at
a price of $25.00 per Series 9 Share for aggregate gross proceeds of $150 million on a bought deal basis with a syndicate of
underwriters, co- led by TD Securities Inc. and National Bank Financial Inc. The underwriters exercised their option to increase
the size of the offering and purchased an additional 1,000,000 Series 9 Shares on the same terms, for additional gross proceeds
of $25 million.
The Series 9 Shares will begin trading today on the TSX under the symbol CPX.PR.I.
The Series 9 Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable
exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer
to buy any security, and shall not constitute an offer, solicitation or sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer
headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of
energy sources. Capital Power owns approximately 4,500 megawatts of power generation capacity at 24 facilities and is pursuing
contracted generation capacity throughout North America.