AltaGas completes C$400 million medium term note offering
On January 3, 2024, AltaGas Ltd. ("AltaGas") announced it had agreed to issue C$400 million of senior unsecured medium term notes with a coupon rate of 4.672 percent, maturing on January 8, 2029.
The net proceeds from the offering were used to pay down existing indebtedness under AltaGas' credit facilities, to fund working capital, and for general corporate purposes. A portion of the current indebtedness under AltaGas' credit facilities was incurred to fund the debt portion of the Pipestone asset acquisition, which was closed December 22, 2023.
The offering was made through a syndicate of investment dealers co-led by TD Securities Inc. and 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 January 3, 2024.
The offering closed on January 8, 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.