OGLETHORPE POWER CORP 8-K

What Happened
Oglethorpe Power Corporation filed a Form 8-K reporting it will redeem certain long-term bonds on June 29, 2026. The company gave notice on May 26, 2026 that it will redeem the full $250.0 million principal amount of its 4.550% First Mortgage Bonds, Series 2014A (due 2044) and $47.8 million principal amount of its 5.534% First Mortgage Bonds, Series 2006 (due 2035).

Key Details

• Redemption date: June 29, 2026; notice provided May 26, 2026.
• Series 2014A: $250.0 million principal, 4.550% coupon, expected to be redeemed at par plus accrued interest.
• Series 2006: $47.8 million principal, 5.534% coupon, expected to be redeemed at par plus a make-whole amount per the supplemental indenture (calculated using U.S. Treasury yields).
• Redemption notices are filed as exhibits to the Form 8-K.

Why It Matters
This action affects holders of these two bond series—they will receive the stated redemption proceeds on the redemption date instead of continuing to hold the bonds to maturity. For investors, the Company’s expected payment at par for the 2014A bonds and a make-whole payment for the 2006 bonds reflects current Treasury yields and the contractual redemption terms; it may modestly reduce Oglethorpe’s outstanding long-term debt and interest obligations tied to these specific issues.