AB, Aug. 4, 2022 /CNW/ - AltaGas Ltd.
("AltaGas" or the "Company") (TSX: ALA) today announced
that it has priced an offering of $250 million of 7.35%
Fixed-to-Fixed Rate Subordinated Notes, Series 2 due August 17, 2082 (the "Offering").
The Offering is expected to close on or about August 17, 2022. The Company intends to use
the net proceeds of the offering to redeem or repurchase its
outstanding cumulative redeemable five-year rate reset preferred
shares, series C (TSX: ALA.PR.U).
The subordinated notes are being offered through a syndicate of
underwriters, co-led by BMO Capital Markets, RBC Capital Markets
and Scotiabank, under AltaGas' short form base shelf prospectus
dated February 22, 2021, as
supplemented by a prospectus supplement dated August 4, 2022.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the subordinated notes in any
jurisdiction. The subordinated notes have not been approved or
disapproved by any regulatory authority. The subordinated notes
have not been and will not be registered under the United States
Securities Act of 1933, as amended, or any state securities law,
and may not be offered or sold within the
United States, or to or for the account of, United States persons.
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.
For more information visit www.altagas.ca or reach out
to one of the following:
Vice President, Investor Relations & Corporate Development
This news release contains forward-looking statements. Words
such as "will", "continued", "ongoing", "believe", "opportunities"
" and similar expressions suggesting future events or future
performance, as they relate to the Corporation or any affiliate of
the Corporation, are intended to identify forward-looking
statements. In particular, this news release contains
forward-looking statements relating to the Offering, including the
anticipated closing date of the Offering and the expected use of
the net proceeds of the Offering.
These 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 statements reflect AltaGas'
current views with respect to future events based on certain
material factors and assumptions are subject to certain risks and
uncertainties, including without limitation, changes in market,
competition, governmental or regulatory developments, general
economic conditions and other factors set out in AltaGas' public
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, and such forward-looking statements, should not be unduly
relied upon. Such 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, except as
required by law. The forward-looking statements contained in this
news release are expressly qualified by this cautionary
SOURCE AltaGas Ltd.