By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – AltaLink, LP agreed to issue C$225 million principal amount of 10-year 1.509% series 2020-1 senior secured notes in an agency transaction with a syndicate led by Scotia Capital Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc., according to a company news release.
Distribution is expected to occur on Friday.
The notes will be secured by a first floating charge security interest in the present and future property and assets of AltaLink.
Proceeds will be used to repay a portion of AltaLink's debt, including debt outstanding under its commercial paper program and its notes due Sept. 17, and for general corporate purposes.
Based in Calgary, Alta., AltaLink is an electricity transmission provider.
| Issuer: | AltaLink, LP
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| Amount: | C$225 million
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| Maturity: | Sept. 11, 2030
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| Securities: | Series 2020-1 senior secured notes
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| Bookrunners: | Scotia Capital Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc.
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| Co-managers: | National Bank Financial Inc., TD Securities Inc., ATB Capital Markets Inc. and Casgrain & Co. Ltd.
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| Coupon: | 1.509%
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 11
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| Distribution: | Canada
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