September 28, 2020 16:07 ET | Source: Altera Infrastructure L.P. PEMBROKE, Bermuda, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Altera Infrastructure GP LLC (ALIN GP), the general partner of Altera Infrastructure L.P. (Altera Infrastructure or the Partnership), today announced its board of directors (the Board) has authorized repurchases of the Partnership’s outstanding 8.50% Senior Notes due 2023 and Series A, B and E Preferred Units through open market purchases, privately negotiated transactions and/or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements. The timing, volume, and nature of any repurchases will be determined by management, in consultation with the Board, based on evaluation of the capital needs of the business, trading prices, applicable legal requirements, and other factors. The Partnership currently expects to fund the repurchase program from cash on hand and/or drawings under its revolving credit facility with Brookfield Business Partners LP and its affiliates (collectively, Brookfield), which Brookfield has agreed to increase in an amount equivalent to the total amount invested by the Partnership in the aforementioned repurchase program.