AltaGas closes C$300 million hybrid note offering

Torys acted as counsel to AltaGas with a team that included Janan Paskaran, Lianne Tysowski, Sarah Magee and Michelle Holmes (corporate/securities), Kevin Fougere and David Kolesar (lending), Jerald Wortsman and Craig Maurice (tax).

On January 11, 2022, AltaGas Ltd. ("AltaGas") closed its previously announced offering of C$300 million of 5.25% fixed-to-fixed rate subordinated notes, Series 1, due January 11, 2082.

The subordinated notes were offered through a syndicate of underwriters, co-led by CIBC Capital Markets, BMO Capital Markets and RBC Capital Markets, under AltaGas' short form base shelf prospectus dated February 22, 2021, as supplemented by a prospectus supplement dated January 5, 2022.

AltaGas intends to use the net proceeds of the offering to redeem or repurchase its outstanding cumulative redeemable five-year rate reset preferred shares, Series K.

Further information can be found on Canada Newswire’s website.

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.