AltaLink

AltaLink

November 29, 2016 08:00 ET

AltaLink, L.P. to Issue $450 Million in Medium-Term Notes

CALGARY, ALBERTA--(Marketwired - Nov. 29, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S.

AltaLink, L.P. (AltaLink) is continuing to support its customers through the cost- effective operation of Alberta's transmission grid, ensuring Albertans have the reliable and affordable energy they need.

AltaLink has agreed to issue $450 million principal amount of 30-year, 3.717% Series 2016-2 Medium- Term Notes due December 03, 2046 in an agency transaction with a syndicate led by RBC Dominion Securities Inc., Scotia Capital Inc., and BMO Nesbitt Burns Inc. The syndicate also includes National Bank Financial Inc., TD Securities Inc., and Casgrain & Company Limited. Distribution of the Medium-Term Notes is expected to occur on December 01, 2016. This 30-year debt issuance represents the lowest coupon rate in the company's history, providing low-cost debt financing for AltaLink customers.

The Medium-Term Notes will be 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 from the issue and sale of the Medium-Term Notes will be used to repay AltaLink's short-term indebtedness, including indebtedness outstanding under its Commercial Paper Program.

Complete details of the offering are set out in AltaLink's shelf prospectus as supplemented by a pricing supplement, which will be available on the SEDAR website for AltaLink at www.sedar.com.

Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta's largest electricity transmission provider. AltaLink is committed to meeting the province's demand for electricity, providing innovative solutions, and partnering with stakeholders and communities in doing so. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.

This news release does not constitute an offer to sell or the solicitation of an offer to buy AltaLink's securities in any jurisdiction, including but not limited to, the United States. AltaLink's securities 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 state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "intends", "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.

Contact Information