~~FORM~~UNITED ~~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): March 20, 2013~~STATES

~~CLECO~~SECURITIES ~~CORPORATION~~AND EXCHANGE ~~(Exact name of registrant as specified in its charter)~~COMMISSION

Louisiana	1-15759	72-1445282
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

WASHINGTON, D.C. 20549

2030 Donahue Ferry Road
Pineville, Louisiana	71360-5226
(Address of principal executive offices)	(Zip Code)

FORM 8-K

~~Registrant's~~CURRENT ~~telephone number, including area code: (318) 484-7400~~REPORT

~~CLECO~~PURSUANT ~~POWER~~TO ~~LLC~~SECTION ~~(Exact~~13 ~~name~~OR ~~of registrant as specified in its charter~~15(d)

Louisiana	1-05663	72-0244480
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

OF THE SECURITIES EXCHANGE ACT OF 1934

2030 Donahue Ferry Road
Pineville, Louisiana	71360-5226
(Address of principal executive offices)	(Zip Code)
Registrant's telephone number, including area code: (318) 484-7400

Date of report (Date of earliest event reported): March 5, 2025

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: o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Commission file number	Registrant, State of Incorporation or Organization, Address of Principal Executive Offices and Telephone Number	IRS Employer Identification Number

1-05663	CLECO POWER LLC (a Louisiana limited liability company) 2030 Donahue Ferry Road Pineville, Louisiana 71360-5226 (318) 484-7400	72-0244480

333-283875	CLECO SECURITIZATION II LLC (a Louisiana limited liability company) 505 Cleco Drive, Office Number 17 Pineville, Louisiana 71360 (318) 484-4183	33-2327335

~~Item~~Check ~~1.01 Entry~~the ~~into~~appropriate abox ~~Material~~below ~~Definitive~~if ~~Agreement~~the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

On☐ ~~March~~Written ~~20,~~communications ~~2013,~~pursuant Cleco Power LLC ("Cleco Power"), a wholly owned subsidiary of Cleco Corporation (“Cleco”), entered into a Term Loan Agreement ("Loan Agreement") with JPMorgan Chase Bank, N.A. ("JPMorgan"). According to ~~the~~Rule ~~Agreement,~~425 JPMorgan has committed to provide a $60 million unsecured term loan ("Term Loan") to Cleco Power. The Term Loan is to be funded by April 1, 2013, and has a maturity date of May 29, 2015. Upon Cleco Power's request, each tranche, or borrowing, under the ~~Loan~~Securities ~~Agreement~~Act ~~may~~(17 beCFR ~~classified as an “ABR Tranche” or “Eurodollar Tranche,” distinguishable by the applicable interest rate~~230.425)

~~Each~~☐ ~~ABR~~Soliciting ~~Tranche~~material ~~will~~pursuant ~~bear~~to ~~interest~~Rule at14a-12 under the ~~“Alternate~~Exchange ~~Base~~Act ~~Rate,”~~(17 ~~plus~~CFR ~~the “Applicable Margin~~240.” 14a-12)

•☐ ~~The~~Pre-commencement ~~“Alternate~~communications ~~Base~~pursuant ~~Rate” means an annual rate equal~~ to ~~the~~Rule ~~greatest of~~ 14d-2(ib) under the ~~applicable~~Exchange ~~annual~~Act ~~rate publicly announced by JPMorgan as its prime commercial lending rate,~~ (~~ii)~~17 ~~the~~CFR ~~Federal Funds Effective Rate in effect plus 0~~240.~~5%, and~~ 14d-2(~~iii~~b) ~~the Adjusted LIBO Rate (as defined below~~) ~~plus 1.0%.~~

•☐ ~~The~~Pre-commencement ~~“Applicable~~communications ~~Margin”~~pursuant ~~for~~to ~~ABR~~Rule ~~loans~~13e-4(c) isunder ~~based~~the onExchange ~~Cleco~~Act ~~Power’s senior debt ratings as determined by Standard & Poor’s and Moody’s ratings services and ranges from 0.000%~~ (~~ratings~~17 ofCFR ~~A- or A3, respectively, or higher) to 0~~240.~~500%~~ 13e-4(~~ratings below BB+ and Ba1, respectively~~c).)

~~Each~~Securities ~~Eurodollar~~registered ~~Tranche~~pursuant ~~will bear interest at the “Adjusted LIBO Rate” plus the “Applicable Margin,” but are subject~~ to ~~alternate~~Section ~~rates~~12(b) of ~~interest if~~ the ~~administrative agent or lenders make certain determinations.~~ Act:

•Title ~~The~~of ~~“Adjusted~~each ~~LIBO~~class ~~Rate”~~Trading ~~means an annual rate equal to~~ Symbol(is) ~~the~~Name ~~LIBO~~of ~~Rate~~each ~~for~~exchange ~~the applicable period multiplied by (ii) the “Statutory Reserve Rate.” The “LIBO Rate” generally means the rate appearing~~ on ~~the Dow Jones Market Service Page 3750 as the rate for dollar deposits with a maturity comparable to the applicable interest period. The “Statutory Reserve Rate” means a fraction, the numerator of~~ which isregistered ~~the~~None ~~number~~N/A one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages, if any, established by the Federal Reserve board to which certain member banks are subject for eurocurrency funding.N/A

•Indicate ~~The~~by ~~“Applicable~~check ~~Margin”~~mark iswhether ~~based~~the onregistrant ~~Cleco~~is ~~Power’s~~an ~~senior~~emerging ~~debt~~growth ~~ratings~~company as ~~determined~~defined byin ~~Standard~~Rule &405 ~~Poor’s~~of ~~and~~the ~~Moody’s~~Securities ~~ratings~~Act ~~services~~of ~~and~~1933 ~~ranges~~(§230.405 ~~from~~of ~~0.650%~~this ~~(ratings~~chapter) ofor Rule A12b-2 orof ~~A3,~~the ~~respectively,~~Securities orExchange ~~higher)~~Act toof ~~1.500%~~1934 (~~ratings~~§240.12b-2 ~~below~~of ~~BB+~~this ~~and Ba1, respectively~~chapter).

~~The~~Emerging ~~Loan~~growth Agreement permits Cleco Power to use the proceeds of the Term Loan for general corporate purposes and to pay transaction fees and expenses. Borrowings under the facility may be prepaid at any time and from time to time along with accrued interest.company ☐

OnIf ~~March~~an 1,emerging ~~2013~~growth company, ~~Cleco~~indicate ~~Power~~by ~~made~~check amark ~~draw~~if onthe ~~its~~registrant ~~credit~~has ~~facility~~elected not to ~~pay~~use ~~its~~the ~~2007~~extended ~~solid~~transition ~~waste~~period ~~disposal~~for ~~facility~~complying ~~bonds~~with ~~that~~any ~~had~~new aor revised ~~mandatory~~financial ~~tender~~accounting ofstandards ~~March~~provided 1,pursuant ~~2013. Cleco~~to ~~Power~~Section ~~anticipates~~13(a) ~~using the proceeds~~ of the ~~Term~~Exchange ~~Loan to pay down the draw of its credit facility~~Act. ☐

~~The~~Item Loan Agreement contains a number of restrictions on the business of Cleco Power and its subsidiary, including restrictions on its ability to merge, dispose of assets, and create or incur liens on assets8.01 Other The Loan Agreement also contains affirmative covenants and events of default, as well as a financial covenant under which Cleco Power may not permit its Total Indebtedness to be greater than 65% of its Total CapitalizationEvents.

~~The~~On ~~foregoing~~March ~~summary~~5, ~~qualified~~2025, inCleco ~~its~~Power ~~entirety~~LLC by(“Cleco ~~reference~~Power”) and Cleco Securitization II LLC (the “Issuing Entity”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc., as underwriters, with respect to the ~~complete~~purchase ~~text~~and sale of $305,000,000 aggregate principal amount of the ~~Loan~~Issuing ~~Agreement~~Entity’s Series 2025-A Senior Secured Energy Transition Bonds (the “Energy Transition Bonds”) to be issued by the Issuing Entity pursuant to an Indenture and Series Supplement, ~~which~~each to be dated as of March 12, 2025. The Underwriting Agreement is ~~attached~~annexed as Exhibit 101.1 to this Current Report on Form 8-K, and a form of the Indenture (including the form of the Energy Transition Bonds and the Series Supplement) is ~~incorporated~~annexed byas ~~reference~~Exhibit ~~herein~~4.1 to this Current Report on Form 8-K. The Energy Transition Bonds were offered pursuant to the prospectus dated March 5, 2025. In connection with the issuance of the Energy Transition Bonds, Cleco Power and the Issuing Entity also expect to enter into an Energy Transition Property Servicing Agreement, an Energy Transition Property Sale Agreement, an Administration Agreement, and an Intercreditor Agreement, each to be dated as of March 12, 2025, which are annexed as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, to this Current Report on Form 8-K.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information required by this item is included in Item 1.01 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits.

The following exhibits are filed herewith:

Exhibit No.		Description
1.1		Underwriting Agreement among Cleco Securitization II LLC, Cleco Power LLC, J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc., as underwriters, dated March 5, 2025.
4.1		Indenture between Cleco Securitization II LLC and The Bank of New York Mellon Trust Company, National Association, as Trustee (including the form of the Energy Transition Bonds and the Series Supplement), to be dated as of March 12, 2025.
10.1		Energy Transition Property Servicing Agreement between Cleco Securitization II LLC and Cleco Power LLC, as Servicer, to be dated as of March 12, 2025.
10.2		Energy Transition Property Sale Agreement between Cleco Securitization II LLC and Cleco Power LLC, as Seller, to be dated as of March 12, 2025.
10.3		Administration Agreement between Cleco Securitization II LLC and Cleco Power LLC, as Administrator, to be dated as of March 12, 2025.
10.4		Intercreditor Agreement between Cleco Securitization II LLC, Cleco Power LLC, Cleco Securitization I LLC and The Bank of New York Mellon Trust Company, National Association, to be dated as of March 12, 2025.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

10.1 Term Loan Agreement dated as of March 20, 2013, by and among Cleco Power LLC, as borrower, the lenders party hereto, and JPMorgan Chase Bank, N.A., as administrative agent.

EXHIBIT INDEX

Exhibit Number Exhibit Description

10.1 Term Loan Agreement dated as of March 20, 2013, by and among Cleco Power LLC, as borrower, the lenders party hereto, and JPMorgan Chase Bank, N.A., as administrative agent.

SIGNATURES

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

	CLECO CORPORATION
Dated: March 6, 2025
Date: March 26, 2013	By: /s/ Terry L. Taylor
	Cleco Power LLC
	Terry L. Taylor
	By:	/s/ Tonita Laprarie
	Controller and Chief Accounting Officer
		Tonita Laprarie
		Controller and Chief Accounting Officer
	Cleco Securitization II LLC
	By:	/s/ Tonita Laprarie
		Tonita Laprarie
		Manager

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.

	CLECO POWER LLC
Date: March 26, 2013	By: /s/ Terry L. Taylor
	Terry L. Taylor
	Controller and Chief Accounting Officer

Filing Compare · CLECO POWER LLC