CALGARY,
AB, May 15, 2023 /CNW/ - AltaGas Ltd.
("AltaGas") (TSX: ALA) today announced that it has completed
its issue of $400 million of senior
unsecured medium term notes (the "Offering") with a coupon rate of
4.638 percent, maturing on May 15,
2026.
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 continues to stagger, extend and de-risk
AltaGas' capital structure and tenor profile.
The Offering was made through a syndicate of investment dealers
co-led by TD Securities Inc., CIBC Capital 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, the use of proceeds from the Offering and the impact
on AltaGas' capital structure. 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.