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AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA,OTC:ATGFF) announced that AltaGas Services (U.S.) Inc., a wholly owned subsidiary of AltaGas, has priced an offering (the "Offering") of US$750 million aggregate principal amount of 5.75% Senior Notes due 2031 (the "Notes"), which are fully and unconditionally guaranteed by AltaGas. The Notes will be unsecured and rank equally with AltaGas' existing senior unsecured debt.
AltaGas intends to use the net proceeds of the Offering for general corporate purposes, including the repayment of existing indebtedness under its credit facility and/or to redeem or repurchase, in whole or in part, certain of the Company's issued and outstanding medium-term notes.
The Offering is expected to close on October 1, 2026, subject to customary closing conditions.
The Notes have not been, and will not be, registered for offer or sale under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state or other jurisdiction and may not be offered or sold except (i) to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act ("Rule 144A")) in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A or (ii) in offshore transactions in compliance with Regulation S under the Securities Act ("Regulation S") and, in each case, in compliance with applicable securities laws. In addition, the Notes are being offered and sold in Canada and outside Canada without being qualified under a prospectus in any jurisdiction of Canada in reliance on one or more exemptions from the prospectus requirements in Canada.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release does not constitute a notice of redemption with respect to any particular series of the Company's issued and outstanding medium-term notes.
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.
For more information reach out to one of the following:
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
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 or affiliates of AltaGas are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the intended use of net proceeds of the Offering. 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 industry or market conditions, impacts of 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 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.
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