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 E (TSX: ALA.PR.E) (the "Series E Preferred Shares). Series E Preferred Share dividends are not deductible for tax purposes and are subject to part 6.1 tax at 40 percent. As a result of the Offering, based on current rates,
The subordinated notes are being offered through a syndicate of underwriters, co-led by
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
For more information visit www.altagas.ca or reach out to one of the following:
Senior Vice President, Corporate Development and Investor Relations
Jon.Morrison@altagas.ca
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
This news release contains forward-looking information (forward-looking statements). Words such as "may", "can", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "aim", "seek", "propose", "contemplate", "estimate", "focus", "strive", "forecast", "expect", "project", "target", "potential", "objective", "continue", "outlook", "vision", "opportunity" and similar expressions suggesting future events or future performance, as they relate to the Company or any affiliate of the Company, are intended to identify forward-looking statements. Specifically, such forward-looking statements included in this document include, but are not limited to, statements with respect to the Offering, including the anticipated closing date of the Offering and the expected use of the net proceeds of the Offering; and the anticipated benefits of the Offering, including expected savings for AltaGas in the initial 5-year term of the subordinated notes due to lower taxes and financing charges relative to the Series E Preferred Shares.
These 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
Many factors could cause
SOURCE
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