PINEVILLE, La. - Cleco Power LLC, a subsidiary of Cleco Corporation (NYSE: CNL), announced today that it closed the private placement of $100.0 million aggregate principal amount of senior unsecured notes on Dec. 16, 2011.

The senior notes will mature on Dec. 16, 2041, and bear interest at the rate of 5.12 percent per annum. 

The offer and sale of the senior notes was not registered under the Securities Act of 1933, as amended (the "1933 Act"), and the senior notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.

Cleco Power will use the net proceeds from the issuance of the senior notes, along with short-term liquidity, to finance the mandatory tender of $100.0 million and $32.0 million in tax-exempt bonds, which occurred on Dec. 1, 2011, and Oct. 1, 2011, respectively.