{"id":44056,"date":"2022-08-22T20:53:14","date_gmt":"2022-08-23T01:53:14","guid":{"rendered":"https:\/\/prefblog.com\/?p=44056"},"modified":"2022-08-22T20:53:14","modified_gmt":"2022-08-23T01:53:14","slug":"ala-pr-u-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44056","title":{"rendered":"ALA.PR.U To Be Redeemed"},"content":{"rendered":"

AltaGas Ltd. has announced<\/a>:<\/p>\n

its intention to redeem \u2013 in accordance with the terms of the Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series C (the “Series C Shares”) as set out in the Company’s articles \u2013 all of its 8,000,000 issued and outstanding Series C Shares on September 30, 2022 (the “Redemption Date”) for a redemption price equal to US$25.00 per Series C Share, together with all accrued and unpaid dividends to, but excluding, the Redemption Date (the “Redemption Price”), less any tax required to be deducted or withheld by the Company.<\/p>\n

As outlined in an August 17, 2022 press release, AltaGas intends to use the net proceeds from the $250 million of 7.35% Fixed-to-Fixed Rate Subordinated Notes, Series 2 due August 17, 2082 to redeem or repurchase its outstanding Series C Shares.<\/p>\n

The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series C Shares in accordance with the terms of the Series C Shares as set out in the Company’s articles. Non-registered holders of Series C Shares should contact their broker or other intermediary for information regarding the redemption process for the Series C Shares in which they hold a beneficial interest. The Company’s transfer agent for the Series C Shares is Computershare Investor Services Inc. Questions regarding the redemption process may be directed to Computershare Investor Services Inc. at 1-800-564-6253 or by email to corporateactions@computershare.com.<\/p><\/blockquote>\n

ALA.PR.U was issued as a FixedReset, US-Pay, 4.40%+358, that commenced trading 2012-6-6<\/a> after being announced 2012-5-29<\/a>. It reset to 5.29% in 2017<\/a>. The possibility of a redemption was announced earlier this month<\/a>.<\/p>\n

Thanks to Assiduous Reader CanSiamCyp<\/i> for bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

AltaGas Ltd. has announced: its intention to redeem \u2013 in accordance with the terms of the Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series C (the “Series C Shares”) as set out in the Company’s …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,31],"tags":[],"class_list":["post-44056","post","type-post","status-publish","format-standard","hentry","category-issue-comments","category-us-pay"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44056"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44056\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}