02:57 PM EDT, 07/05/2024 (MT Newswires) -- AltaGas Ltd. ( ATGFF ) Friday announced that it has priced an additional offering of $250 million aggregate principal amount in its 5.597% Medium Term Notes, Series 29, due March 14, 2054.

The additional Notes will be issued at a price of $96.379 plus accrued interest. Upon completion of the offering of the additional Notes, there will be $500 million aggregate principal amount of Notes outstanding.

The offering of the additional Notes is expected to close on or about July 9, 2024. The net proceeds resulting from the offering will be used to repay amounts drawn on the syndicated credit facility.

The term loan was repaid in full on June 28, 2024.

The additional Notes are being offered on a best-efforts basis in each of the provinces of Canada through a syndicate of investment dealers led by BMO Nesbitt Burns Inc.

ALA was at last look down $0.02 at $31.04, still at the high end of its 52 week trading range.

Price: 31.00, Change: -0.06, Percent Change: -0.19