AltaLink, L.P.

AltaLink, L.P.

May 11, 2009 13:38 ET

AltaLink to Issue $100 Million in Medium-Term Notes

CALGARY, ALBERTA--(Marketwire - May 11, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES

AltaLink, L.P. (AltaLink) is committed to providing value for Albertans through the delivery of reliable, cost-effective electricity through its transmission system.

Today, AltaLink announced that it has agreed to issue a principal amount of $100 million of additional Series 2008-1 Medium-Term Notes due May 29, 2018, through its $800 million Medium-Term Notes program in an agency deal with Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., and RBC Dominion Securities Inc. The Series 2008-1 Medium-Term Notes will pay an annual coupon rate of 5.243% until maturity. The distribution of the Series 2008-1 Medium-Term Notes is scheduled to close on May 14, 2009.

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 utilized to repay outstanding commercial paper.

AltaLink intends to file in Canada a pricing supplement to its short form base shelf prospectus dated May 16, 2008 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.

The Series 2008-1 Medium-Term Notes have not been, and will not be, registered in the United States under the Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or applicable exemption from the registration requirement of such Act. This press release does not constitute an offer to sell or a solicitation to buy the Medium-Term Notes in the United States.

AltaLink, Canada's only fully independent transmission provider, is responsible for the maintenance and operation of more than 11,800 kilometres of transmission lines and approximately 270 substations in Alberta. As Alberta's largest supplier of safe and reliable transmission, AltaLink is moving forward to provide a transmission system that will continue to meet the growing needs of Albertans. AltaLink has been a proud supporter of Alberta 4-H since 2003, and as a Legacy Builder it is the title sponsor of all regional, district and provincial communications and public speaking programs.

Contact Information

  • AltaLink Management Ltd.
    Investor Relations
    Chris Lomore
    Vice President, Treasurer
    (403) 267-3446
    Email: Chris.Lomore@AltaLink.ca
    or
    AltaLink Management Ltd.
    Media Relations
    Scott Schreiner
    Manager, External Communications
    (403) 267-2176
    Email: Scott.Schreiner@AltaLink.ca