AltaLink, L.P. to Issue $350 Million in Senior Secured Notes

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Postmedia has not reviewed the content. by Business Wire AltaLink, L.P. to Issue $350 Million in Senior Secured NotesAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. 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(AltaLink) is continuing to support its customers through the cost-effective operation of Alberta’s transmission grid, ensuring Albertans have the safe, reliable and affordable energy they need.AltaLink has agreed to issue $350 million aggregate principal amount of 30-year, 5.111% Series 2026-1 Senior Secured Notes due July 23, 2056, by way of private placement in an agency transaction with a syndicate led by RBC Dominion Securities Inc., Scotia Capital Inc., and BMO Nesbitt Burns Inc. The syndicate also includes National Bank Financial Inc., TD Securities Inc., ATB Capital Markets Corp., and Casgrain & Company Limited. Closing of the Senior Secured Notes is expected to occur on July 23, 2026.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 will 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 short term indebtedness under the Issuer’s Commercial Paper program that was used to repay $350 million of 2.747% Series 2016-1 Medium-Term Notes that matured on May 29, 2026.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againHeadquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider, with approximately 13,400 kilometres of transmission lines and more than 310 substations. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy.This news release does not constitute an offer to sell or the solicitation of an offer to buy AltaLink’s securities in any jurisdiction, including but not limited to, the United States. AltaLink’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “intends”, “projects”, “plans”, “anticipates” and similar expressions, are forward looking information that represents management of AltaLink’s internal projections, expectations or beliefs concerning, among other things; the terms, the intended closing date of the offering and the amount of the proposed debt financing; future operating results and various components thereof; or the economic performance of AltaLink. The projections, estimates and beliefs contained in such forward looking information necessarily involve various assumptions, known and unknown risks and uncertainties, which may cause forward looking information and AltaLink’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward looking statements. These risks and uncertainties include, among other things, those described in AltaLink’s filings with the Canadian securities authorities, including its most recently filed Annual Information Form and annual and interim Management’s Discussion and Analysis. Accordingly, holders of AltaLink securities and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. AltaLink disclaims any responsibility to update any forward looking information, except as required by law.View source version on businesswire.com: For more information please contact: Vice President, Financial Planning & TreasuryVice President, External EngagementThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.