By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – AltaLink, LP agreed to issue C$500 million principal amount of 32-year 5.463% series 2023-1 senior secured notes in an agency transaction with a syndicate led by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital 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 C$500 million of 3.668% series 2013-4 medium-term notes due Nov. 6.
Based in Calgary, Alta., AltaLink is an electricity transmission provider.
| Issuer: | AltaLink, LP
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| Amount: | C$500 million
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| Issue: | Series 2023-1 senior secured notes
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| Maturity: | Oct. 11, 2055
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| Bookrunners: | BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital 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: | 5.463%
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 11
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| Distribution: | Canada
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