CALGARY,
AB, Aug. 3, 2022 /CNW/ - AltaGas Ltd.
("AltaGas" or the "Company") (TSX: ALA) today announced that it
is considering an offering of hybrid subordinated debt securities
under its short form base shelf prospectus dated February 22, 2021.
If a successful offering is priced and completed, the Company
intends to use the net proceeds of the offering to redeem or
repurchase its outstanding cumulative redeemable five-year rate
reset preferred shares, series C (TSX: ALA.PR.U). There is no
certainty that AltaGas will ultimately complete the offering being
considered or as to the timing or terms on which such an offering
might be completed.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the hybrid subordinated debt
securities in any jurisdiction. The hybrid subordinated debt
securities considered to be offered have not been approved or
disapproved by any regulatory authority. The hybrid subordinated
debt securities have not been and will not be registered under the
United States Securities Act of 1933, as amended, or any state
securities law, and may not be offered or sold within the United States, or to or for the account
of, United States persons.
ABOUT ALTAGAS
AltaGas is a leading North American infrastructure company that
connects customers and markets to affordable and reliable sources
of energy. The Company operates a diversified, lower-risk,
high-growth Utilities and Midstream business that is focused on
delivering resilient and durable value for its stakeholders.
For more information visit www.altagas.ca or reach out to
one of the following:
Jon Morrison
Senior
Vice President, Investor Relations & Corporate Development
Jon.Morrison@altagas.ca
Adam McKnight
Director,
Investor Relations
Adam.McKnight@altagas.ca
Investor Inquiries
1-877-691-7199
investor.relations@altagas.ca
Media Inquiries
1-403-206-2841
media.relations@altagas.ca
FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements. Words
such as "will", "continued", "ongoing", "believe", "opportunities"
" and similar expressions suggesting future events or future
performance, as they relate to the Corporation or any affiliate of
the Corporation, are intended to identify forward-looking
statements. In particular, this news release contains
forward-looking statements relating to AltaGas' consideration of an
offering of hybrid subordinated debt securities and the use of the
net proceeds from any successful offering of hybrid subordinated
debt securities.
These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. Such statements reflect AltaGas'
current views with respect to future events based on certain
material factors and assumptions are subject to certain risks and
uncertainties, including without limitation, changes in market,
competition, governmental or regulatory developments, general
economic conditions and other factors set out in AltaGas' public
disclosure documents.
Many factors could cause AltaGas' actual results, performance
or achievements to vary from those described in this news release,
including, without limitation, those listed above. These factors
should not be construed as exhaustive. Should one or more of these
risks or uncertainties materialize, or should assumptions
underlying forward-looking statements prove incorrect, actual
results may vary materially from those described in this news
release, and such forward-looking statements, should not be unduly
relied upon. Such statements speak only as of the date of this news
release. AltaGas does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required by law. The forward-looking statements contained in this
news release are expressly qualified by this cautionary
statement.
SOURCE AltaGas Ltd.