AltaGas Ltd. announced that it has agreed to issue $400 million of senior unsecured medium term notes with a coupon rate of 4.672%, maturing on January 8, 2029. The Offering is expected to close on or about January 8, 2024. The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas' credit facilities, to fund working capital, and for general corporate purposes.

A portion of the current indebtedness under AltaGas' credit facilities was incurred to fund the debt portion of the Pipestone asset acquisition, which was closed December 22, 2023. The Offering is being made through a syndicate of investment dealers co-led by TD Securities Inc. and BMO Nesbitt Burns Inc. under AltaGas' short form base shelf prospectus dated March 31, 2023, as supplemented by a prospectus supplement dated May 11, 2023 and related pricing supplement dated January 3, 2024.