News

AltaGas Ltd. Closes $300 Million Medium Term Note Offering

November 10, 2014

CALGARY, ALBERTA--(Marketwired - Nov. 10, 2014) - AltaGas Ltd. ("AltaGas") (TSX:ALA) today announced that it has completed its C$300,000,000 issue of senior unsecured medium term notes (the "Offering"). The notes carry a coupon rate of 3.84% and mature on January 15, 2025.

The net proceeds resulting from the Offering will be used to fund the previously announced early redemptions of the C$100,000,000 6.94% medium term notes, Series 2, due June 29, 2016 and C$200,000,000 4.10% medium term notes, Series 5, due March 24, 2016, and for general corporate purposes.

The Offering was made through a syndicate of investment dealers co-led by CIBC World Markets Inc. and BMO Capital Markets under AltaGas' Short Form Base Shelf Prospectus dated August 23, 2013, the Prospectus Supplement dated January 7, 2014, and the Pricing Supplement dated November 5, 2014.

AltaGas is an energy infrastructure business with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca

This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the use of proceeds of the Offering, business objectives, expected growth, results of operations, business projects and opportunities and financial results. 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 and 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 as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, 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. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.