By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – AltaLink, LP agreed to issue C$275 million principal amount of 10-year 4.692% series 2022-1 senior secured notes in an agency transaction with a syndicate led by RBC Dominion Securities Inc., Scotia Capital Inc. and BMO Nesbitt Burns Inc., according to a company news release.
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$275 million
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| Issue: | Series 2022-1 senior secured notes
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| Maturity: | Nov. 28, 2032
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| Bookrunners: | RBC Dominion Securities Inc., Scotia Capital Inc. and BMO Nesbitt Burns Inc.
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| Co-managers: | National Bank Financial Inc., ATB Capital Markets Inc., TD Securities Inc. and Casgrain & Co. Ltd.
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| Coupon: | 4.692%
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 28
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| Distribution: | Canada
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