AltaLink, L.P. to Issue $225 Million in Senior Secured Notes

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AltaLink, L.P. to Issue $225 Million in Senior Secured Notes

by ahnationtalk on September 9, 202036 Views

CALGARY, ALBERTA (September 8, 2020) – AltaLink, L.P. (AltaLink) is continuing to support its customers through the cost-effective operation of Alberta’s transmission grid, ensuring Albertans have the reliable and affordable energy they need.

AltaLink has agreed to issue $225 million principal amount of 10-year, 1.509% Series 2020-1 Senior Secured Notes due September 11, 2030, by way of private placement in an agency transaction with a syndicate led by Scotia Capital Inc., RBC Dominion Securities Inc., and BMO Nesbitt Burns Inc. The syndicate also includes National Bank Financial Inc., TD Securities Inc., ATB Capital Markets Inc., and Casgrain & Company Limited. Distribution of the Senior Secured Notes is expected to occur on September 11, 2020.

The Senior Secured Notes will be secured by a first floating charge security interest in the present and future property and assets of AltaLink. The Senior Secured Notes rank pari passu with all senior, secured indebtedness and have priority over all present and future unsecured indebtedness and all subordinated indebtedness. The net proceeds from the issue and sale of the Senior Secured Notes will be used to repay $125.0 million of 3.621% Series 2013-2 Medium-Term Notes due September 17, 2020, repay AltaLink’s short-term indebtedness, including indebtedness outstanding under its Commercial Paper Program, and for general corporate purposes.

Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.

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FOR FURTHER INFORMATION

Investor Relations

Chris Lomore
Vice President, Treasurer
AltaLink Management Ltd.
Phone: 403.828.1521
E-mail: [email protected]

Media Relations

Scott Schreiner
Vice President, Communications
AltaLink Management Ltd.
Phone: 403.880.0275
E-mail: [email protected]

NT4

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