December 7, 2009 (FinancialWire) — Otter Tail Corp. (NASDAQ: OTTR) announced the closing of an offering of $100 million of its 9.000% notes due 2016. The notes will be senior unsecured obligations of Otter Tail Corp.

Otter Tail Corp. intends to use the net proceeds of the offering to reduce borrowings under its revolving credit facility.

Banc of America Securities LLC and J.P. Morgan Securities Inc. acted as joint book-running managers, U.S. Bancorp Investments, Inc. acted as lead manager and BNP Paribas Securities Corp., KeyBanc Capital Markets Inc. and Wells Fargo Securities, LLC acted as co-managers for the offering.

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