AltaGas closes C$250 million hybrid note offering
On August 17, 2022, AltaGas Ltd. (“AltaGas”) announced that it closed the offering of C$250 million of 7.35% fixed-to-fixed rate subordinated notes, Series 2, due August 17, 2082.
The subordinated notes were offered through a syndicate of underwriters, co-led by BMO Capital Markets, RBC Capital Markets and Scotiabank, under AltaGas' short form base shelf prospectus dated February 22, 2021, as supplemented by a prospectus supplement dated August 4, 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 C.
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.