AltaGas arranges $550-million note offering
2021-03-11 21:57 ET - News Release
Mr. Jon Morrison reports
ALTAGAS LTD. ANNOUNCES AGGREGATE $550 MILLION MEDIUM TERM NOTE OFFERING
AltaGas Ltd. has agreed to issue $350-million of senior unsecured medium-term notes with a coupon rate of 1.227 per cent, maturing on March 18, 2024, and $200-million of senior unsecured medium-term notes with a coupon rate of 2.166 per cent, maturing on March 16, 2027.
The offering is expected to close on or about March 16, 2021. The net proceeds resulting from the offering will be used to pay down existing indebtedness under AltaGas's credit facility and for general corporate purposes.
The offering is being made through a syndicate of investment dealers co-led by RBC Capital Markets, Scotiabank and TD Securities Inc. under AltaGas's short-form base-shelf prospectus dated Feb. 22, 2021, prospectus supplement dated March 8, 2021, and related pricing supplements dated March 11, 2021.
About AltaGas Ltd.
AltaGas is a leading North American energy infrastructure company that connects natural gas liquids and natural gas to domestic and global markets. The company operates a diversified, low-risk, high-growth utility and mid-stream business that is focused on delivering resilient and durable value for its stakeholders.
We seek Safe Harbor.