OTTAWA (dpa-AFX) - AltaGas Ltd. (ALA.TO, ATGFF), a natural gas and utilities company, on Monday announced that its wholly owned subsidiary U.S. AltaGas Services, priced an offering of $750 million in aggregate principal amount of senior notes.
The offering is expected to close on October 1.
The notes carry a 5.75% interest rate and are due in 2031.
The company plans to use the net proceeds for general corporate purposes.
The proceeds may be used to repay existing credit facility debt and/or redeem or repurchase certain outstanding medium-term notes.
The notes will be fully and unconditionally guaranteed by the company and will rank equally with its existing senior unsecured debt.
On Monday, AltaGas closed trading 0.56% lesser at CAD 53.32 on the Toronto Stock Exchange.
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