CALGARY, AB, Jan. 5, 2022 /CNW/ - AltaGas Ltd. ("AltaGas"
or the "Company") (TSX: ALA) today announced that
it has priced an offering of $300 million of 5.25%
Fixed-to-Fixed Rate Subordinated Notes, Series 1 due January 11, 2082 (the "Offering").
The Offering is expected to close on or about January 11, 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 K (TSX: ALA.PR.K).
The subordinated notes are being offered through a syndicate of
underwriters, co-led by CIBC Capital Markets, BMO Capital Markets
and RBC Capital Markets, under AltaGas' short form base shelf
prospectus dated February 22, 2021,
as supplemented by a prospectus supplement dated January 5, 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
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 disclosure
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 statement.
SOURCE AltaGas Ltd.