June 27, 2012
AltaLink to Issue $300 Million in Medium-Term Notes
Calgary, Alberta - AltaLink, L.P. (AltaLink) is committed to providing value for Albertans through the delivery of reliable, affordable electricity through its transmission system. AltaLink will issue $300 million in Medium-Term Notes to support the development of new transmission projects throughout Alberta. These projects will ensure the transmission system will meet the province's growing need for electricity.
AltaLink announced that it has agreed to issue a principal amount of $300 million of Series 2012?1 Medium-Term Notes due June 30, 2042, through its $1,300 million Medium-Term Notes program in an agency deal with BMO Nesbitt Burns Inc., Scotia Capital Inc., RBC Dominion Securities Inc., National Bank Financial Inc., TD Securities Inc. and Casgrain & Company Limited. The Series 2012?1 Medium-Term Notes will pay interest at a semi?annual rate of 3.99% until maturity. The distribution of the Series 2012?1 Medium-Term Notes is scheduled to close on June 29, 2012.
The Medium-Term Notes are secured by a first floating charge security interest in the present and future property and assets of AltaLink. The Medium-Term Notes 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 of the offering will be used primarily to repay outstanding commercial paper.
AltaLink intends to file in Canada a pricing supplement to its short form base shelf prospectus dated August 16, 2010, in respect of this issue. Complete details of the offering are set out in the shelf prospectus as supplemented by the pricing supplement, which will be available on the SEDAR website for AltaLink at www.sedar.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities of AltaLink described herein 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 U.S. state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption there from.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "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, future operating results and various components thereof or the economic performance of AltaLink. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, which may cause 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. 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 these forward looking statements.
For more information please contact:
AltaLink Management Ltd. - Investor Relations
Vice President, Treasurer
AltaLink Management Ltd. - External Engagement
Director, External Engagement