AltaGas Ltd. Announces Closing of $200 Million Preferred Share Offering
December 13 2013 - 9:30AM
Marketwired
AltaGas Ltd. Announces Closing of $200 Million Preferred Share
Offering
CALGARY, ALBERTA--(Marketwired - Dec 13, 2013) - AltaGas Ltd.
("AltaGas") (TSX:ALA)(TSX:ALA.PR.A)(TSX:ALA.PR.U) today announced
it has closed its previously announced public offering of 8,000,000
Cumulative Redeemable Rate Reset Preferred Shares, Series E (the
"Series E Preferred Shares"), at a price of $25.00 per Series E
Preferred Share ("the Offering") for aggregate gross proceeds of
$200 million, including 2,000,000 Series E Preferred Shares
pursuant to the exercise in full of an underwriters' option.
The Offering was first announced on December 4, 2013 when
AltaGas entered into an agreement with a syndicate of underwriters
co-led by TD Securities Inc., RBC Capital Markets and
Scotiabank.
Net proceeds will be used to reduce outstanding indebtedness and
for general corporate purposes.
The Series E Preferred Shares will commence trading today on the
Toronto Stock Exchange ("TSX") under the symbol ALA.PR.E.
AltaGas is an energy infrastructure business with a focus on
natural gas, power and regulated utilities. AltaGas creates value
by acquiring, growing and optimizing its energy infrastructure,
including a focus on clean energy sources. For more information
visit: www.altagas.ca.
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 or an affiliate of AltaGas, are intended to identify
forward-looking statements. In particular, this news release
contains forward-looking statements with respect to, among other
things, business objectives, expected growth, results of
operations, performance, business projects and opportunities,
financial results, the use of proceeds from the Offering and the
trading of the Series E Preferred Shares on the TSX. 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 and 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 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 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.
AltaGas Ltd.Investment
Community1-877-691-7199investor.relations@altagas.caAltaGas
Ltd.Media(403) 269-5701media.relations@altagas.cawww.altagas.ca
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