AltaLink, LP Issues $325 Million in Senior Secured Notes - Latest Global News

AltaLink, LP Issues $325 Million in Senior Secured Notes

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NOT INTENDED FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS LIMITATION MAY CONSTITUTE A VIOLATION OF THE UNITED STATES SECURITIES LAWS

CALGARY, Alberta – AltaLink, LP (AltaLink) continues to support its customers by cost-effectively operating Alberta’s transmission system and ensuring Albertans have the safe, reliable and affordable energy they need.

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AltaLink has agreed to issue, in an agency transaction with a consortium led by Scotia Capital Inc., RBC, Series 2024-1, 30-year senior secured notes bearing an interest rate of 4.742% and due May 22, 2054, in an aggregate principal amount of Dominion Securities Inc. and BMO Nesbitt Burns Inc. to issue $325 million in private placement. The syndicate also includes National Bank Financial Inc., TD Securities Inc., ATB Capital Markets Inc. and Casgrain & Company Limited. Closing of the Senior Secured Notes is expected to occur on May 22, 2024.

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The senior secured notes will be secured by a first variable security interest in the current and future property and assets of AltaLink. The senior secured notes will rank equally with all senior secured notes and will have priority over all current and future unsecured notes and all subordinated notes. The net proceeds from the issuance and sale of the Senior Secured Notes, together with the issuance of commercial paper, will be used to fully redeem $350 million of 3.399% Series 2014-1 Medium-Term Notes due June 6, 2024 .

Headquartered in Calgary with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electric transmission provider. AltaLink works with its customers to provide innovative solutions to meet the province’s needs for reliable and affordable energy. A wholly owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies that provides energy services to customers around the world.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities of AltaLink in any jurisdiction, including, but not limited to, the United States. The securities of AltaLink have not been and will not be purchased under the United States Securities Act of 1933, as amended (the “US Securities Act”) or other state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the US Securities Act and applicable state securities laws.

Except for the historical and current factual information contained herein, the matters set forth in this press release, including words such as “expects,” “intends,” “projects,” “plans,” “anticipates” and similar expressions, are forward-looking information that the management of the represent AltaLink’s internal forecasts, expectations or beliefs regarding, among other things: the terms, proposed closing date of the offering and the amount of proposed debt financing; future operating results and various components thereof; or AltaLink’s economic performance. The projections, estimates and beliefs contained in such forward-looking information necessarily involve various assumptions, known and unknown risks and uncertainties, which may cause the forward-looking information and AltaLink’s actual performance and financial results in future periods to differ materially from those projected for future performance expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, those described in AltaLink’s filings with Canadian securities regulators, including its most recently filed annual information form and management’s annual and preliminary discussion and analysis. Accordingly, holders of AltaLink securities and potential investors are cautioned that events or circumstances could cause results to differ materially from those projected. AltaLink disclaims any responsibility to update any forward-looking information except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240516977460/en/

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contacts

Investor Relations
Chris Lomore
Vice President, Treasurer
AltaLink Management Ltd.
Phone: 403.267.3446
E-mail: [email protected]

Media relations
Scott Schreiner
Vice President, External Engagement
AltaLink Management Ltd.
Phone: (403) 880-0275
E-mail: [email protected]

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