ALTAGAS LTD. ANNOUNCES AGGREGATE $600 MILLION MEDIUM TERM NOTE OFFERINGS

CNW Group

Mon, Mar 11, 2024, 8:00 PM 4 min read

CALGARY, AB, March 11, 2024 /CNW/ - AltaGas Ltd. ("AltaGas") (TSX: ALA) today announced that it has agreed to issue $350 million of senior unsecured medium term notes (the "10 Year Notes") with a coupon rate of 5.141 percent, maturing on March 14, 2034 and $250 million of senior unsecured medium term notes (the "30 Year Notes") with a coupon rate of 5.597 percent, maturing on March 14, 2054 (the "Offering").

The Offering is expected to close on or about March 14, 2024. The net proceeds resulting from the Offering will be used to refinance the Company's March 2024 medium term note maturities, to pay down other existing indebtedness, to fund working capital and for general corporate purposes.

The Offering is being made through a syndicate of investment dealers co-led by CIBC World Markets Inc., National Bank Financial Inc. and TD Securities 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 March 11, 2024.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the Offering in any jurisdiction. The Offering has not been approved or disapproved by any regulatory authority nor will it be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States unless an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws is available.

Further to the press release of March 8, 2024, the Board of Directors of AltaGas approved a $0.2975 per share quarterly common share dividend to be paid to shareholders of record on March 15, 2024 and payable on March 28, 2024.

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.

For more information visit www.altagas.ca or reach out to one of the following:

Jon Morrison
Senior Vice President, Corporate Development and Investor Relations
Jon.Morrison@altagas.ca

Adam McKnight
Director, Investor Relations
Adam.McKnight@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 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. 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.

SOURCE AltaGas Ltd.