AltaGas completes aggregate C$400 million medium term note offering
Torys acted as counsel to AltaGas with a team that included Janan Paskaran, Sarah Magee and Logan Orr (corporate/securities).
On May 11, 2023, AltaGas Ltd. (“AltaGas”) announced it agreed to issue C$400 million of senior unsecured medium term notes with a coupon rate of 4.638%, maturing on May 15, 2026.
The offering was made through a syndicate of investment dealers co-led by TD Securities Inc., CIBC World Markets Inc. and National Bank Financial 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 May 11, 2023.
The offering closed on May 15, 2023.
The net proceeds resulting from the offering will be used to pay down existing indebtedness under AltaGas' credit facility and to refinance the senior unsecured medium-term note maturing in June 2023.
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.