Calgary, AB – AltaGas Ltd. (“AltaGas”) (TSX: ALA) today announced that it has agreed to issue $350 million of senior unsecured medium term notes (the “3 Year Notes”) with a coupon rate of 1.227 percent, maturing on March 18, 2024 and $200 million of senior unsecured medium term notes (the “6 Year Notes”) with a coupon rate of 2.166 percent, maturing on March 16, 2027 (the “Offering”).
The Offering is expected to close on or about March 16, 2021. 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 RBC Capital Markets, Scotiabank and TD Securities Inc. under AltaGas’ Short Form Base Shelf Prospectus dated February 22, 2021, Prospectus Supplement dated March 8, 2021 and related Pricing Supplements dated March 11, 2021.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the 3 Year Notes or the 6 Year Notes in any jurisdiction. Neither the 3 Year Notes nor the 6 Year Notes have been approved or disapproved by any regulatory authority. Neither the 3 Year Notes nor the 6 Year Notes have been or will 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 that connects NGLs and natural gas to domestic and global markets. The Company operates a diversified, low-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders. For more information visit: www.altagas.ca or reach out to one of the following: