Published on 12/4/2018 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: AltaGas prices C$300 million 4.26% 10-year notes to yield 4.269%
By Cristal Cody
Tupelo, Miss., Dec. 4 – AltaGas Canada Inc. priced C$300 million of 4.26% 10-year senior medium-term notes (DBRS: BBB (high)) on Monday at 99.927 to yield 4.269%, according to a final term sheet.
RBC Dominion Securities Inc. and CIBC World Markets Inc. were the bookrunners.
Proceeds will be used to pay down a portion of the C$351.2 million of debt outstanding under a promissory note dated Oct. 18, 2018.
AltaGas Canada is an energy company based in Calgary, Alta.
Issuer: | AltaGas Canada Inc.
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Amount: | C$300 million
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Issue: | Series 1 senior medium-term notes
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Maturity: | Dec. 5, 2028
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Bookrunners: | RBC Dominion Securities Inc. and CIBC World Markets Inc.
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Co-managers: | BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc. and Beacon Securities Ltd.
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Coupon: | 4.26%
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Price: | 99.927
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Yield: | 4.269%
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Call features: | Make-whole call before Sept. 5, 2028 at greater of par and Government of Canada yield plus 50 bps; thereafter at par
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Change-of-control put: | 101%
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Pricing date: | Dec. 3
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Settlement date: | Dec. 5
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Rating: | DBRS: BBB (high)
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Distribution: | Canada
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