CALGARY,
AB, July 9, 2024 /CNW/ - AltaGas Ltd.
("AltaGas") (TSX: ALA) today announced that it has closed its
previously announced additional offering of $250 million aggregate principal amount of its
5.597% Medium Term Notes, Series 29, due March 14, 2054 (the "Notes") issued at a price of
$96.379 plus accrued interest.
Including the additional Notes, there will be $500 million aggregate principal amount of Notes
outstanding.
The net proceeds from the offering will be used to repay amounts
drawn on the syndicated credit facility. The term loan was repaid
in full on June 28, 2024.
The additional Notes were offered on a best-efforts basis in
each of the provinces of Canada
through a syndicate of investment dealers led by 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 July 5, 2024.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction.
The additional Notes have not been approved or disapproved by any
regulatory authority nor has any such authority passed upon the
accuracy or adequacy of the short form base shelf prospectus or the
pricing supplement.
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
Aaron Swanson
Vice
President, Investor Relations
Aaron.Swanson@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 and the use of
proceeds from the offering of additional notes. 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.