AltaGas Ltd. ("AltaGas") announced that it has closed its previously announced additional offering of $250 million aggregate principal amount of its 5.597% Medium Term Notes, Series 29, due March 14, 2054 (the "Notes") issued at a price of $96.379 plus accrued interest. Including the additional Notes, there will be $500 million aggregate principal amount of Notes outstanding.
The net proceeds 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 were 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. under AltaGas' short form base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated May 11, 2023, and related pricing supplement dated July 5, 2024.
