RE:RE:RE:deal close date...MrBigger wrote: Meanwhile ALA has to pay dividend on 130 million new shares. I guess that is what debt is for right? Paying dividends??
MrBigger, where do you get that 130million new shares? According to the NR, it's only a little over 80M new shares. With overallottment, it's still only 90M new shares. .
AltaGas arranges $2.1B bought deal, $400M placement
2017-01-25 14:47 MT - News Release
An anonymous director reports
ALTAGAS LTD. ANNOUNCES $2.5 BILLION SUBSCRIPTION RECEIPT OFFERING COMPRISED OF $2.1 BILLION BOUGHT DEAL AND $400 MILLION PRIVATE PLACEMENT
AltaGas Ltd. has entered into an agreement with a syndicate of underwriters led by TD Securities Inc., RBC Capital Markets and J.P. Morgan Securities Canada Inc. to issue 67.8 million subscription receipts, on a bought deal basis, at an issue price of $31 per subscription receipt, for total gross proceeds of approximately $2.1-billion. Additionally, AltaGas has agreed to issue, by way of a private placement to OMERS, the pension plan for Ontario's municipal employees, 12.91 million subscription receipts at a price of $31 per subscription receipt, for aggregate gross proceeds of approximately $400-million. TD Securities, RBC Capital Markets and J.P. Morgan Securities Canada are acting as joint book-running agents on the private placement.
The net proceeds from the public offering and the private placement will be used to partially finance the previously announced $8.4-billion acquisition of WGL Holdings Inc. WGL is the sole shareholder of Washington Gas Light Company, a regulated natural gas utility company headquartered in Washington. WGL also owns non-regulated power, mid-stream and energy-marketing businesses in the United States, with a growing strategic footprint in the Marcellus/Utica gas formation.
AltaGas has granted the underwriters of the public offering an overallotment option to purchase, in whole or part, up to an additional 10.17 million subscription receipts at the offering price to cover overallotments, if any, for a period of 30 days following the closing of the offering. If the overallotment option is exercised in full, gross proceeds from the offerings will be approximately $2.8-billion.