AltaGas completes additional C$250 million offering of medium term notes
On July 9, 2024, AltaGas Ltd. ("AltaGas") announced it closed its previously announced additional offering of C$250 million aggregate principal amount of its 5.597% medium term notes, Series 29, due March 14, 2054, issued at a price of C$96.379 plus accrued interest. Including the additional notes, there will be C$500 million aggregate principal amount of notes outstanding.
The net proceeds from the offering will be used to repay amounts drawn on the syndicated credit facility. The term loan was repaid in full on June 28, 2024.
The additional notes were offered on a best-efforts basis in each of the provinces of Canada through a syndicate of investment dealers led by BMO Nesbitt Burns Inc. under AltaGas' short form base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated May 11, 2023, and related pricing supplement dated July 5, 2024.
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.