CALGARY,
AB, March 14, 2024 /CNW/ - AltaGas Ltd.
("AltaGas") (TSX: ALA) today announced that it has closed its
previously announced issuance of $350
million of senior unsecured medium term notes (the "10 Year
Notes") with a coupon rate of 5.141 percent, maturing on
March 14, 2034 and $250 million of senior unsecured medium term
notes (the "30 Year Notes") with a coupon rate of 5.597 percent,
maturing on March 14, 2054 (the
"Offering").
The net proceeds resulting from the Offering will be used to
refinance the Company's March 2024
medium term note maturities, to pay down other existing
indebtedness, to fund working capital and for general corporate
purposes.
The Offering was made through a syndicate of investment dealers
co-led by CIBC World Markets Inc., National Bank Financial Inc. and
TD Securities 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 supplements dated March 11, 2024.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any of the Offering in any
jurisdiction. The Offering has not been approved or disapproved by
any regulatory authority nor will it be registered under
the United States Securities
Act of 1933, as amended (the "U.S. Securities Act"), or any
state securities laws, and may not be offered or sold within
the United States unless an
exemption from the registration requirements of the U.S. Securities
Act and applicable state securities laws is available.
All financial figures are in Canadian dollars.
About AltaGas
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 Energy Infrastructure business that is focused on
delivering stable and growing value for its stakeholders.
For more information visit www.altagas.ca or reach out to
one of the following:
Jon Morrison
Senior
Vice President, Corporate Development and Investor Relations
Jon.Morrison@altagas.ca
Adam McKnight
Director,
Investor Relations
Adam.McKnight@altagas.ca
Investor Inquiries
1-877-691-7199
investor.relations@altagas.ca
Media Inquiries
1-403-206-2841
media.relations@altagas.ca
FORWARD-LOOKING STATEMENTS
This news release contains
forward-looking statements. When used in this news release, the
words "may", "would", "could", "will", "intend", "plan",
"anticipate", "believe", "seek", "propose", "estimate", "expect",
and similar expressions, as they relate to AltaGas are intended to
identify forward-looking statements. In particular, this news
release contains forward-looking statements with respect to, among
other things, the Offering, the closing of the Offering and the use
of proceeds from the Offering. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. Such
forward-looking statements reflect AltaGas' current views with
respect to future events based on certain material factors and
assumptions and are subject to certain risks and uncertainties,
including without limitation, changes in market, governmental or
regulatory developments, general economic conditions and other
factors set out in AltaGas' public disclosure documents. Many
factors could cause AltaGas' actual results, performance or
achievements to vary from those described in this news release,
including without limitation those listed above. These factors
should not be construed as exhaustive. Should one or more of these
risks or uncertainties materialize, or should assumptions
underlying forward-looking statements prove incorrect, actual
results may vary materially from those described in this news
release as intended, planned, anticipated, believed, sought,
proposed, estimated or expected, and such forward-looking
statements included in, or incorporated by reference in this news
release, should not be unduly relied upon. Such forward-looking
statements speak only as of the date of this news release. AltaGas
does not intend, and does not assume any obligation, to update
these forward-looking statements. The forward-looking statements
contained in this news release are expressly qualified by this
cautionary statement.
SOURCE AltaGas Ltd.
