AltaGas Income Trust to raise $100 million in medium-term note offering

By The Canadian Press

CALGARY - AltaGas Income Trust (TSX: ALA-UN.TO) said Monday that it has signed a deal to raise $100 million in an offering of senior unsecured medium-term notes.

The notes, which will be used to pay down debt and general corporate purposes, carry a coupon rate of 6.94 per cent and mature on June 29, 2016.

Standard & Poor's Rating Services rated the notes BBB, while DBRS rated them BBB (low) with a positive trend.

Units in the trust, which announced the financing after the close of markets, were down 51 cents at $16.24 on the Toronto Stock Exchange.