CALGARY,
AB, Nov. 7, 2023 /CNW/ - AltaGas Ltd.
("AltaGas" or the "Company") (TSX: ALA) today announced that it
has priced an offering of $200
million of 8.90% Fixed-to-Fixed Rate Subordinated Notes,
Series 3 due November 10, 2083 (the
"Offering"). The Notes are callable after five years.
The Offering is expected to close on or about November 10, 2023. 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 E (TSX: ALA.PR.E).
The subordinated notes are being offered through a syndicate of
underwriters, co-led by CIBC World Markets Inc. and RBC Dominion
Securities Inc., under AltaGas' short form base shelf prospectus
dated March 31, 2023, as supplemented
by a prospectus supplement dated November
7, 2023.
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.
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.
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 INFORMATION
This news release contains forward-looking information
(forward-looking statements). Words such as "may", "can", "would",
"could", "should", "will", "intend", "plan", "anticipate",
"believe", "aim", "seek", "propose", "contemplate", "estimate",
"focus", "strive", "forecast", "expect", "project", "target",
"potential", "objective", "continue", "outlook", "vision",
"opportunity" and similar expressions suggesting future events or
future performance, as they relate to the Company or any affiliate
of the Company, are intended to identify forward-looking
statements. Specifically, such forward-looking statements included
in this document include, but are not limited to, statements with
respect 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 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 and 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 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.