Cleco Power LLC Enters Material Definitive Agreement

TL;DR

Cleco Power LLC just signed a big deal, expect financial moves.

AI Summary

Cleco Power LLC, a subsidiary of Cleco Corporate Holdings LLC, entered into a material definitive agreement on November 18, 2025. This agreement involves a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this transaction.

Why It Matters

This filing indicates a significant new financial commitment or transaction for Cleco Power LLC, which could impact its financial obligations and operational structure.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement and creating new financial obligations can introduce financial and operational risks for the company.

Key Players & Entities

• Cleco Power LLC (company) — Registrant
• Cleco Corporate Holdings LLC (company) — Parent Company
• November 18, 2025 (date) — Date of Agreement
• November 21, 2025 (date) — Filing Date

FAQ

Key Financial Figures

• $350.0 million — pleted the issuance and private sale of $350.0 million aggregate principal amount of its 5.300

Filing Documents

• ef20059691_8k.htm (8-K) — 39KB
• ef20059691_ex4-2.htm (EX-4.2) — 182KB
• 0001140361-25-042968.txt ( ) — 414KB
• cnl-20251118.xsd (EX-101.SCH) — 4KB
• cnl-20251118_def.xml (EX-101.DEF) — 15KB
• cnl-20251118_lab.xml (EX-101.LAB) — 23KB
• cnl-20251118_pre.xml (EX-101.PRE) — 17KB
• ef20059691_8k_htm.xml (XML) — 6KB

01

Item 1.01. Entry into a Material Definitive Agreement. On November 21, 2025, Cleco Power LLC (the "Company") completed the issuance and private sale of $350.0 million aggregate principal amount of its 5.300% Senior Notes due 2036 (the "Notes") to Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc., as representatives of the several Initial Purchasers, (collectively, the "Representatives"). The Company intends to use the net proceeds from the private offering for general limited liability company purposes, including the repayment of borrowings under its revolving credit agreement. The Notes were issued pursuant to an indenture, dated as of September 10, 2021 (the "Base Indenture"), between the Company and Regions Bank, as trustee (the "Trustee"), as amended and supplemented by Supplemental Indenture No. 2, dated as of November 21, 2025 (the "Supplemental Indenture" and, together with the Base Indenture, the "Indenture"), between the Company and the Trustee. The Notes were offered at an original issue price of 99.777%, bear interest at a rate of 5.300% per annum and mature on January 15, 2036. Interest is payable on the Notes semi-annually in arrears on January 15 and July 15 of each year, commencing July 15, 2026. The Company may redeem the Notes, in whole or in part, at any time prior to October 15, 2035 (the "Par Call Date"), at a redemption price equal to the greater of (1) a "make-whole" amount calculated by reference to the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed discounted to the date of redemption and (2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest to, but excluding, the date of redemption. The Company may redeem the Notes, in whole or in part, at any time on or after the Par Call Date, at a redemption price equal to 100% of the principal amount thereof, plus accrue

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under the caption "Indenture" in Item 1.01 above is incorporated by reference into this Item 2.03.

Financial Statements and Exhibits

Financial Statements and Exhibits . (d) Exhibits. Exhibit No. Description 4.1 Indenture, dated as of September 10, 2021, by and between the Company and the Trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed September 10, 2021). 4.2 Supplemental Indenture No. 2, dated as of November 21, 2025, by and between the Company and the Trustee. 4.3 Form of Notes (included in Exhibit 4.2 hereto). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES 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 hereunto duly authorized. CLECO CORPORATE HOLDINGS LLC Date: November 21, 2025 By: /s/ Kristin L. Guillory Kristin L. Guillory Chief Financial Officer 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 hereunto duly authorized. CLECO POWER LLC Date: November 21, 2025 By: /s/ Kristin L. Guillory Kristin L. Guillory Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR