0001157523-12-003634.txt : 20120716 0001157523-12-003634.hdr.sgml : 20120716 20120716170015 ACCESSION NUMBER: 0001157523-12-003634 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120713 ITEM INFORMATION: Other Events FILED AS OF DATE: 20120716 DATE AS OF CHANGE: 20120716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Otter Tail Corp CENTRAL INDEX KEY: 0001466593 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 270383995 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53713 FILM NUMBER: 12964156 BUSINESS ADDRESS: STREET 1: 215 S CASCADE ST STREET 2: PO BOX 496 CITY: FERGUS FALLS STATE: MN ZIP: 56538-0496 BUSINESS PHONE: 866-410-8780 MAIL ADDRESS: STREET 1: 215 S CASCADE ST STREET 2: PO BOX 496 CITY: FERGUS FALLS STATE: MN ZIP: 56538-0496 FORMER COMPANY: FORMER CONFORMED NAME: Otter Tail Holding Co DATE OF NAME CHANGE: 20090618 8-K 1 a50341939.htm OTTER TAIL CORPORATION 8-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 13, 2012

OTTER TAIL CORPORATION
(Exact name of registrant as specified in its charter)

Minnesota

0-53713

27-0383995

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

215 South Cascade Street, P.O. Box 496, Fergus Falls, MN	56538-0496
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (866) 410-8780

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On July 13, 2012 Otter Tail Corporation, a Minnesota corporation (the “Company”), prepaid in full its outstanding $50,000,000 Senior Note due November 30, 2017 (the “Cascade Note”) issued pursuant to the Note Purchase Agreement dated as of February 23, 2007 (as amended, the “Note Purchase Agreement”) between the Company (as assignee of Otter Tail Power Company, formerly known as Otter Tail Corporation) and Cascade Investment, L.L.C. (“Cascade”). Immediately before the prepayment, the Cascade Note bore interest at 8.89% annually.

The price paid by the Company to prepay the Cascade Note was $63,030,931, which includes the principal amount of the Cascade Note, plus accrued interest to July 13, 2012 of $530,931 and a negotiated premium of $12,500,000 (which is less than the premium the Company would have been required to pay under the terms of the Note Purchase Agreement). The Company used funds drawn on its existing credit facility to fund the prepayment.

Cascade owned approximately 9.6% of the Company’s outstanding Common Shares on December 31, 2011.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		OTTER TAIL CORPORATION
Date:	July 16, 2012

		By	/s/ Kevin G. Moug
			Kevin G. Moug
			Chief Financial Officer