April 12, 2017 / 8:47 PM / 3 months ago

BRIEF-Capital Power announces acquisition of Decatur Energy Center

2 Min Read

April 12 (Reuters) - Capital Power Corp:

* Capital Power announces acquisition of Decatur Energy Center and a $183 million subscription receipt offering

* Capital Power is reaffirming its 2017 AFFO guidance of $320 million to $365 million

* Capital Power Corp -deal for U.S. $441 million

* Capital Power Corp - to acquire Decatur Power Holdings LLC, which owns Decatur Energy Center from an affiliate of LS Power Equity Partners III

* Capital Power Corp - acquisition will be financed by net proceeds raised through subscription receipt offering

* Acquisition further supports company's 7pct annual dividend growth guidance for 2017 and 2018

* Capital Power - acquisition is expected to increase adjusted funds from operations (AFFO) by an estimated $43 million in first full year of operations

* Capital Power Corp - acquisition is expected be accretive by 18 cents per share reflecting a 6pct increase over first full year of operations

* Capital Power Corp - acquisition is expected to be neutral to earnings per share

* Capital Power - balance of acquisition to be financed through debt using temporary expansion of co's bank facilities Source text for Eikon: Further company coverage:

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