December 1, 2009 (FinancialWire) — Otter Tail Corp. (NASDAQ: OTTR) announced that it intends to offer a new series of notes in an underwritten registered public offering. The notes will be senior unsecured obligations of Otter Tail Corp.

The aggregate principal amount, maturity and interest rate of the notes will be determined at the time the notes are sold to investors. The offering will be made pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission.

Otter Tail Corp. intends to use the net proceeds of the offering to reduce borrowings under its revolving credit facility and for general corporate purposes.

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