CALGARY,
AB, May 11, 2023 /CNW/ - AltaGas Ltd.
("AltaGas") (TSX: ALA) today announced that it has agreed to
issue $400 million of senior
unsecured medium term notes (the "Offering") with a coupon rate of
4.638 percent, maturing on May 15,
2026.
The Offering is expected to close on or about 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.
The Offering is being 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,
Prospectus Supplement dated May 11,
2023 and related Pricing Supplement dated May 11, 2023.
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 or will 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 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 Utilities and Midstream business that is focused on
delivering resilient and durable value for its stakeholders.
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.