ALTAGAS ANNOUNCES REVIEW OF HYBRID SUBORDINATED DEBT OFFER
CALGARY, AB, January 4, 2022 / CNW / – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) announced today that it is considering an offering of hybrid subordinated debt securities under its short form base shelf prospectus dated February 22, 2021.
If the price of a successful Offer is established and completed, the Company intends to use the net proceeds of the Offer to redeem or repurchase its outstanding Five-Year Rate Reset Cumulative Preferred Shares, Series K ( TSX: ALA.PR.K). There is no certainty that AltaGas will ultimately complete the contemplated offering or as to when or under what conditions such an offering may be made.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the hybrid subordinated debt securities in any jurisdiction. The hybrid subordinated debt securities considered to be offered have not been approved or disapproved by any regulatory authority. Hybrid subordinated debt securities 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. in the United States, or at or on behalf of, United States people.
AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable energy sources. The Company operates a diverse, low-risk, high-growth utility and midstream business, focused on creating resilient and sustainable value for its stakeholders.
For more information visit www.altagas.ca or contact one of the following:
Senior Vice-President, Investor Relations and Corporate Development
Director, Investor Relations
This press release contains forward-looking statements. Words such as “will”, “continuing”, “in progress”, “believe”, “opportunities” “and similar expressions suggesting future events or future performance, with respect to the Company or any company affiliated with Company, are intended to identify In particular, this press release contains forward-looking statements regarding AltaGas’ consideration of an offering of hybrid subordinated debt securities and the use of the net proceeds of any successful offering of subordinated debt securities hybrids.
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 these forward-looking statements. These statements reflect AltaGas’ current views regarding future events based on certain important factors and assumptions are subject to certain risks and uncertainties, including, without limitation, market changes, competition, developments governmental or regulatory, general economic conditions and other factors set out in AltaGas’ public disclosure documents.
There are many factors that could cause AltaGas’ actual results, performance or achievements to differ from those described in this press release, including, without limitation, those listed above. These factors should not be taken as exhaustive. If one or more of these risks or uncertainties materialize, or if the assumptions underlying forward-looking statements prove to be incorrect, actual results may differ materially from those described in this press release, and such forward-looking statements should not be unduly invoked. Such statements speak only as of the date of this press release. AltaGas does not intend and assumes no obligation to update these forward-looking statements, except as required by law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE AltaGas Ltd.