AltaGas completes C$200 million hybrid subordinated notes offering
On November 7, 2023, AltaGas Ltd. ("AltaGas") announced it had priced an offering of C$200 million of 8.90% fixed-to-fixed rate Subordinated Notes, Series 3 due November 10, 2083, which are callable after five years.
The offering was made through a syndicate of underwriters, co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., under AltaGas' short form base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated November 7, 2023.
The offering closed on November 10, 2023.
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 E.
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.