CALGARY – AltaGas Ltd. (“AltaGas”) (TSX: ALA) today announced that it has agreed to issue $500 million of senior unsecured medium-term notes (the “Notes”) with a coupon rate of 2.609 percent, maturing on December 16, 2022 (the “Offering”).
The Offering is expected to close on or about December 16, 2019. The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas’ credit facility and for general corporate purposes.
The Offering is being made through a syndicate of investment dealers co-led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc. under AltaGas’ Short Form Base Shelf Prospectus dated September 25, 2019, Prospectus Supplement dated December 10, 2019 and a related Pricing Supplement dated December 12, 2019.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes in any jurisdiction. The Notes have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and may not be offered or sold within the United States unless an exemption from the registration requirements of the U.S. Securities Act is available.
All financial figures are in Canadian dollars.
AltaGas is a leading North American energy infrastructure company with a focus on regulated Utilities, Midstream and Power. AltaGas creates value by growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca.