TransAlta announces pricing of US$500 million senior notes offering
November 09 2009 - 6:15PM
Marketwired
TransAlta Corporation (TSX: TA); (NYSE: TAC) ("TransAlta") today
announced it has priced an offering of US$500.0 million in
aggregate principal amount of its 4.75% senior notes due 2015 at an
issue price equal to 99.783% of the principal amount of the notes.
TransAlta intends to use the net proceeds from the offering to
repay a portion of the indebtedness relating to its acquisition of
Canadian Hydro Developers, Inc. The notes are expected to be rated
BBB by Standard & Poor's Rating Services, a division of
McGraw-Hill, Inc., and Baa2 by Moody's Investor Service Inc. A
securities rating is not a recommendation to buy, sell or hold
securities and may be subject to revision or withdrawal at any
time.
RBC Capital Markets Corporation, HSBC Securities (USA) Inc. and
RBS Securities Inc. acted as joint book-running managers for the
offering. Copies of the prospectus supplement relating to the
offering may be obtained from RBC Capital Markets Corporation,
Attention: Prospectus Department, Three World Financial Center, 200
Vesey Street, 8th Floor, New York, NY 10281-8098 (fax:
212-428-6260), HSBC Securities (USA) Inc., Attention: Transaction
Management Group, c/o Broadridge, 1155 Long Island Avenue, Bay 1-7,
Edgewood, NY 11717 (fax: 212-525-0238) or RBS Securities Inc., 600
Washington Boulevard, Stamford, CT 06901 (toll-free:
866-884-2071).
The offering of the notes was made under TransAlta's US$1.0
billion base shelf registration that was effective November 18,
2008.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.
About TransAlta
TransAlta is a corporation amalgamated under the Canada Business
Corporations Act. The registered office and principal place of
business of TransAlta are at 110 - 12th Avenue S.W., Calgary,
Alberta, Canada T2R 0G7. TransAlta generates and markets
electricity in Canada, the United States and Australia through its
portfolio of facilities fueled by coal, natural gas, hydroelectric,
wind and geothermal resources.
Caution Regarding Forward-Looking Information
This press release contains forward-looking statements within
the meaning of securities laws, including the "safe harbour"
provisions of Canadian securities legislation and the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
information is often, but not always, identified by the use of
words such as "anticipate," "believe," "expect," "plan," "intend,"
"forecast," "target, " "project," "guidance," "may," "will,"
"should," "could," "estimate," "predict" or similar words
suggesting future outcomes or language suggesting an outlook.
Forward-looking statements in this press release include, but are
not limited to, the expected closing date, the anticipated proceeds
of the offering and the use of those proceeds.
Forward-looking statements and information contained in this
press release are based on our current beliefs as well as
assumptions we have made and information currently available to us.
Although we consider these assumptions to be reasonable based on
information currently available to us, they may prove to be
incorrect.
By their very nature, the forward-looking statements included in
this press release involve inherent risks and uncertainties, both
general and specific, and risks that predictions, forecasts,
projections and other forward-looking statements will not be
achieved, including, without limitation, the failure to close the
offering discussed herein on the terms disclosed herein or at all
and the failure to use the proceeds of the offering as disclosed
herein. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual
results to differ materially from the beliefs, plans, objectives,
expectations and anticipations, estimates and intentions expressed
in such forward-looking statements as may be found under the
heading "Risk Factors" in our annual information form for the year
ended December 31, 2008 and under the heading "Business Risks" in
our management's discussion and analysis for the year ended
December 31, 2008.
Readers are cautioned that the foregoing list of factors that
may affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to
TransAlta, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
Furthermore, the forward-looking statements contained in this press
release are made as of the date of this document and we do not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law. The forward-looking statements contained in this
press release are expressly qualified by this cautionary
statement.
Contacts: TransAlta Corporation - Media inquiries: Michael
Lawrence Manager, Media Relations (403) 267-7330
michael_lawrence@transalta.com TransAlta Corporation - Investor
inquiries: Jess Nieukerk Manager, Investor Relations (403) 267-3607
investor_relations@transalta.com www.transalta.com
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