By Angela McDaniels
Tacoma, Wash., May 25 – AltaLink, LP agreed to issue C$350 million principal amount of 10-year 2.747% series 2016-1 medium-term 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.
Distribution is expected to occur Monday.
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 short-term debt, including debt outstanding under its commercial paper program.
Based in Calgary, Alta., AltaLink is an electricity transmission provider.
| Issuer: | AltaLink, LP
|
| Amount: | C$350 million
|
| Maturity: | May 29, 2026
|
| Securities: | Series 2016-1 medium-term notes
|
| Bookrunners: | BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
|
| Co-managers: | National Bank Financial Inc., TD Securities Inc. and Casgrain & Co. Ltd.
|
| Coupon: | 2.747%
|
| Pricing date: | May 25
|
| Settlement date: | May 30
|
| Distribution: | Canada
|
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