AltaGas Completes Major US$900M Hybrid Note Offering

AltaGas (TSE:ALA) has released an update.

AltaGas Ltd. has successfully closed a significant US$900 million hybrid note offering, with a notable 7.20 percent interest rate, convertible to 6.90 percent in Canadian dollars after currency swaps. The company plans to use these funds to reduce existing senior notes and bank debt, expecting a credit metric improvement due to the equity treatment of hybrid debt.

For further insights into TSE:ALA stock, check out TipRanks’ Stock Analysis page.