Floating charge

AltaLink, L.P. to Issue $225 Million in Senior Secured Notes

Retrieved on: 
Tuesday, September 8, 2020
Money, Finance, Bankruptcy, Economy, Financial law, Business law, Property law, Debt, Security interest, Subordination, Pari passu, Floating charge

The syndicate also includes National Bank Financial Inc., TD Securities Inc., ATB Capital Markets Inc., and Casgrain & Company Limited.Distribution of the Senior Secured Notes is expected to occur on September 11, 2020.

Key Points: 
  • The syndicate also includes National Bank Financial Inc., TD Securities Inc., ATB Capital Markets Inc., and Casgrain & Company Limited.Distribution of the Senior Secured Notes is expected to occur on September 11, 2020.
  • 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 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 will be used to repay $125.0 million of 3.621% Series 2013-2 Medium-Term Notes due September 17, 2020, repay AltaLinks short-term indebtedness, including indebtedness outstanding under its Commercial Paper Program, and for general corporate purposes.