PR Newswire
CALGARY, AB, Sept. 17, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) announced the Company has priced an offering (the "Offering") of US$900 million aggregate principal amount of 7.20 percent Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054 (the "Notes"). The Notes are callable at the first reset date of October 15, 2034. AltaGas has also executed a cross-currency swap arrangement to convert the underlying proceeds and interest costs of the Notes into Canadian dollars. The net effect of the swap will be to lower AltaGas' effective annual interest cost over the initial ten-year life of the Notes in Canadian dollars. The Offering is expected to close on or about September 23, 2024, subject to customary closing conditions.
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