Mr. Jon Morrison reports
ALTAGAS LTD. ANNOUNCES $400 MILLION MEDIUM TERM NOTE OFFERING
AltaGas Ltd. has agreed to issue $400-million of senior unsecured medium term notes with a coupon rate of 4.672 per cent, maturing on Jan. 8, 2029.
The offering is expected to close on or about Jan. 8, 2024. The net proceeds resulting from the offering will be used to pay down existing indebtedness under AltaGas's credit facilities, to finance working capital and for general corporate purposes. A portion of the current indebtedness under AltaGas's credit facilities was incurred to finance the debt portion of the Pipestone asset acquisition, which was closed Dec. 22, 2023.
The offering is being made through a syndicate of investment dealers co-led by TD Securities Inc. and BMO Nesbitt Burns Inc. under AltaGas's short form base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated May 11, 2023, and related pricing supplement dated Jan. 3, 2024.
About AltaGas
Ltd.
AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The company operates a diversified, lower-risk, high-growth energy infrastructure business that is focused on delivering stable and growing value for its stakeholders.
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