As outlined in a January 11, 2022 press release, AltaGas will use the proceeds from the $300 million Financing of 5.25% Fixed-to-Fixed Rate Subordinated Notes, Series 1 due January 11, 2082 (the “Series 1 Notes”) to redeem the Series K Shares. AltaGas expects to save approximately $66 million in the initial ten-year term of the Series 1 Notes due to lower taxes and financing charges. The Financing and Redemption will also continue to stagger, extend and de-risk AltaGas’ capital structure.
The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series K Shares in accordance with the terms of the Series K Shares as set out in the Company’s articles. Non-registered holders of Series K Shares should contact their broker or other intermediary for information regarding the redemption process for the Series K Shares in which they hold a beneficial interest. The Company’s transfer agent for the Series K Shares is Computershare Investor Services Inc. Questions regarding the redemption process may be directed to Computershare Investor Services Inc. at 1-800-564-6253 or by email to corporateactions@computershare.com.