Cleco Corporate Holdings LLC 8-K

What Happened

• Cleco Corporate Holdings LLC announced on April 24, 2026 that it entered into a term loan agreement and borrowed $250.0 million under the Credit Agreement. The company intends to use the term loan proceeds to repay at maturity all outstanding Cleco Holdings senior notes due May 1, 2026. The agreement names Regions Bank as administrative agent and is filed as Exhibit 10.1 to the 8-K.

Key Details

• Amount borrowed: $250.0 million (term loan).
• Date of agreement: April 24, 2026; 8-K filed April 29, 2026.
• Interest pricing: currently SOFR + 1.500% or ABR + 0.500%.
• Financial covenant: must maintain total indebtedness (excluding securitization indebtedness) ≤ 65% of total capitalization.
• Item classification: reported as Entry into a Material Definitive Agreement (Item 1.01) and creation of a direct financial obligation (Item 2.03).

Why It Matters

• The term loan replaces short-term debt coming due on May 1, 2026, reducing immediate refinancing risk by providing committed financing to cover the maturing senior notes.
• The pricing and covenant in the Credit Agreement affect Cleco Holdings’ cost of borrowing and leverage limits going forward; the 65% indebtedness cap may restrict the company’s ability to add debt above that threshold (excluding securitization obligations).
• Investors should watch Cleco Holdings’ liquidity and capital structure disclosures for the effects of this refinancing and whether terms change as markets evolve. The full loan agreement is attached as an exhibit to the 8-K for further detail.