AltaLink has agreed to issue $325 million aggregate principal amount of 30-year, 4.742 percent Series 2024-1 Senior Secured Notes due May 22, 2054, by way of private placement in an agency transaction with a syndicate led by Scotia Capital Inc., RBC Dominion Securities Inc., and BMO Nesbitt Burns Inc. The syndicate also includes National Bank Financial Inc., TD Securities Inc., ATB Capital Markets Inc., and Casgrain & Company Limited. Closing of the Senior Secured Notes is expected to occur on May 22, 2024.

The Senior Secured Notes will be secured by a first floating charge security interest in the present and future property and assets of AltaLink. The Senior Secured Notes will 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 from the issue and sale of the Senior Secured Notes together with commercial paper issuance will be used to fully repay $350 million of 3.399% Series 2014-1 Medium-Term Notes due June 6, 2024.

Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.