Business
ALTAGAS LTD. CLOSES AGGREGATE $400 MILLION MEDIUM TERM NOTE OFFERING
ALTAGAS LTD. CLOSES AGGREGATE $400 MILLION MEDIUM TERM NOTE OFFERING Canada NewsWire ...
About this update from Altagas Ltd.
[{"type":"text","content":"\n \n \n \n ALTAGAS LTD. CLOSES AGGREGATE $400 MILLION MEDIUM TERM NOTE OFFERING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n May 15, 2023\n \n \n /CNW/ -\n \n AltaGas Ltd. (\"AltaGas\")\n \n (TSX: ALA) today announced that it has completed its issue of\n \n $400 million\n \n of senior unsecured medium term notes (the \"Offering\") with a coupon rate of 4.638 percent, maturing on\n \n May 15, 2026\n \n .\n \n \n The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas' credit facility and to refinance the senior unsecured medium-term note maturing in June 2023.  The Offering continues to stagger, extend and de-risk AltaGas' capital structure and tenor profile.\n \n \n The Offering was made through a syndicate of investment dealers co-led by TD Securities Inc., CIBC Capital Markets Inc. and National Bank Financial Inc. under AltaGas' Short Form Base Shelf Prospectus dated\n \n March 31, 2023\n \n , Prospectus Supplement dated\n \n May 11, 2023\n \n and related Pricing Supplement dated\n \n May 11, 2023\n \n .\n \n \n This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the offering in any jurisdiction. The offering has not been approved or disapproved by any regulatory authority or will be registered under\n \n the United States\n \n \n Securities Act of 1933\n \n , as amended (the \"U.S. Securities Act\"), or any state securities laws, and may not be offered or sold within\n \n the United States\n \n unless an exemption from the registration requirements of the U.S. Securities Act is available.\n \n \n All financial figures are in Canadian dollars.\n \n \n \n About AltaGas\n \n \n \n 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 Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders....