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BRIEF-Altagas Announces Filing Of Amended And Restated Prospectus For IPO Of Altagas Canada Inc

Published 2018-10-02, 07:58 a/m
BRIEF-Altagas Announces Filing Of Amended And Restated Prospectus For IPO Of Altagas Canada Inc
ALA
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Oct 2 (Reuters) - AltaGas Ltd ALA.TO :

* ALTAGAS ANNOUNCES THE FILING OF AN AMENDED AND RESTATED PROSPECTUS FOR THE INITIAL PUBLIC OFFERING OF ALTAGAS CANADA INC., WHICH INCLUDES ALTAGAS' CANADIAN UTILITIES AND CERTAIN RENEWABLE POWER ASSETS IN CANADA

* ALTAGAS LTD - HAS BEEN RAPIDLY REPAYING ITS BRIDGE FACILITY, AND EXPECTS TO MEET ITS COMMITMENT TO HAVE BRIDGE FACILITY RETIRED IN Q4 OF 2018.

* ALTAGAS LTD - FINAL STEP FOR BRIDGE REPAYMENT FOLLOWING COMPLETION OF IPO IS ABOUT $1.1 BILLION IN FINANCING

* ALTAGAS LTD - TOTAL CASH PROCEEDS FOR ALTAGAS FROM IPO EXPECTED TO APPROACH $1 BILLION, WHICH WILL BE FUNDED BY ALTAGAS CANADA

* ALTAGAS LTD - EXPECTS TO HOLD ABOUT 37% TO 45% OF ACI AT CLOSE OF IPO

* ALTAGAS - AFTER COMPLETION OF IPO, EXPECT TO RAISE ABOUT $2.5 BILLION THROUGH ASSET MONETIZATION PLAN, EXCEEDING ORIGINAL TARGET OF $2.0 BILLION

* ALTAGAS LTD - ACI PROPOSES TO SELL 16.5 MILLION SHARES; OFFERING PRICE EXPECTED TO BE BETWEEN $15.50 AND $18.00 PER COMMON SHARE

* ALTAGAS LTD - FINAL DECISION OF IPO SIZE AND PRICE, AS WELL AS CLOSING OF IPO, IS EXPECTED TO OCCUR IN LATE OCTOBER 2018

* ALTAGAS LTD - ALTAGAS EXPECTS TO HOLD APPROXIMATELY 37% TO 45% OF ACI AT CLOSE OF IPO

* ALTAGAS LTD - IPO IS EXPECTED TO CLOSE IN LATE OCTOBER 2018

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