TSX:ALAGas Utilities
AltaGas (TSX:ALA) Valuation in Focus After $200M Debt Move and Capital Structure Shift
If you are following AltaGas (TSX:ALA), this week’s news probably has you rethinking your next move. The company just closed a $200 million debt offering, which might sound routine at first glance, but there is more going on beneath the surface. AltaGas plans to use the proceeds to redeem its outstanding Series A and B preferred shares. This financing was more expensive both in terms of interest rates and unfavorable tax treatment. Based on current rates, the company expects roughly $30...