Northland Power Inc. completes C$158 million common share and C$75 million extendible convertible debenture offering and concurrent private placement of C$50 million of common shares

Closing Date: 03/05/2014

Value: C$283 million

Northland Power Inc. completed an offering of 9,375,000 common shares at a price of $16.00 per common share, representing gross proceeds of $150,000,000, and $75,000,000 aggregate principal amount of 5.00% extendible convertible unsecured subordinated debentures, series B.  The underwriters exercised their over-allotment options in respect of each of the common share offering and the debenture offering, bringing the total proceeds for each offering to $157,500,000 and $78,750,000, respectively.   Concurrently, Northland completed a private placement of 3,125,000 common shares to a subsidiary of Northland Power Holdings Inc., a company controlled by Mr. James C. Temerty, at the same price per common share for total proceeds of $50,000,000. The transactions closed on March 5, 2014.\

The offering was made through a syndicate of underwriters led by CIBC World Markets Inc., and BMO Nesbitt Burns Inc. and included National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc., FirstEnergy Capital Corp.

Northland was represented by BLG with a team consisting of Linda Bertoldi, Paul Mingay, Habeeb Syed, Katherine Schuck, Linda Tu and Stephen Fyfe.