CALGARY,
AB, July 5, 2024 /CNW/ - AltaGas Ltd.
("AltaGas") (TSX: ALA) today announced that it has priced an
additional offering of $250 million
aggregate principal amount of its 5.597% Medium Term Notes, Series
29, due March 14, 2054 (the "Notes").
The additional Notes will be issued at a price of $96.379 plus accrued interest. Upon completion of
the offering of the additional Notes, there will be $500 million aggregate principal amount of Notes
outstanding.
The offering of the additional Notes is expected to close on or
about July 9, 2024. The net proceeds
resulting 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 are being 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. AltaGas will be filing a pricing supplement pursuant to the
base shelf prospectus dated March 31,
2023, as supplemented by a prospectus supplement dated
May 11, 2023 relating to the offering
of the additional Notes with the securities regulatory authorities
in each of the provinces of Canada. The pricing supplement and
accompanying base shelf prospectus and prospectus supplement
contain important detailed information about the additional Notes
being offered. A copy of the pricing supplement and the
accompanying base shelf prospectus and prospectus supplement
relating to the additional Notes may be obtained over the Internet
under AltaGas' profile at the Canadian Securities
Administrators' website at www.sedarplus.com. Investors should read
the pricing supplement and accompanying base shelf prospectus and
prospectus supplement before making an investment decision.
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.
This news release is not an offer for sale within the United States of any debt or other
securities of AltaGas, including any offering of its debt
securities, may not be offered or sold in the United States absent registration under
U.S. securities laws or unless exempt from registration under such
laws. The offering described in this news release is not being made
in the United States and has not
been and will not be registered under U.S. securities laws, and
accordingly, the additional Notes may not be offered or delivered,
directly or indirectly, or sold in the
United States except in certain transactions exempt from the
registration requirements under applicable U.S. securities
laws.
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.
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 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.
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
SOURCE AltaGas Ltd.