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AltaGas Ltd. Closes Aggregate $500 Million Medium Term Note Offering
AltaGas Ltd. Closes Aggregate $500 Million Medium Term Note Offering Canada NewsWi...
About this update from Altagas Ltd.
[{"type":"text","content":"\n\n\n\nAltaGas Ltd. Closes Aggregate $500 Million Medium Term Note Offering\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\nCanada NewsWire\nCALGARY, Dec. 16, 2019\n\n\n\nCALGARY, Dec. 16, 2019 /CNW/ - AltaGas Ltd. (\"AltaGas\") (TSX:ALA) today announced that it has completed its aggregate issue of $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\").\nThe net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas' credit facility and for general corporate purposes.  As a result, AltaGas expects that the Offering will be leverage neutral.  Additionally, because the coupon rate of the Notes is lower than the borrowing rate of the existing debt, AltaGas expects cost savings of approximately $5 million per annum as a result of the debt repayment.  \nThe Offering was 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. \nThis 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.\nAll financial figures are in Canadian dollars.\nAbout AltaGas\nAltaGas 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.c...