Transalta Corp - Free Writing Prospectus - Filing under Securities Act Rules 163/433 (FWP)
May 06 2008 - 2:28PM
Edgar (US Regulatory)
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Filed Pursuant to Rule 433
Registration Statement No. 333-137846
May 6, 2008
TransAlta Corporation
Pricing Term Sheet
Issuer:
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TransAlta Corporation
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Expected Ratings:
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Baa2/BBB
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Security Type:
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SEC Registered
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Size:
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US$500,000,000
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Maturity:
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May 15, 2018
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Coupon:
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6.650%
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Price:
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99.724% ($498,620,000)
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Yield to Maturity:
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6.688%
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Spread:
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+285 basis points
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Benchmark Treasury:
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3.500% due February 15, 2018
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Treasury Yield/Price:
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3.838%/97-08+
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Settlement Date:
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May 9, 2008
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Interest Payment Dates:
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May 15 and November 15 of each year commencing November 15, 2008
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Make-Whole Call:
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T+45 basis points
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CUSIP#:
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89346D AC1
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Joint Book-running
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Citigroup Global Markets Inc.
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Managers:
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HSBC Securities (USA) Inc.
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Lead Manager:
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Wachovia Capital Markets, LLC
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Co-Managers:
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CIBC World Markets Corp.
Greenwich Capital Markets, Inc.
RBC Capital Markets Corporation
Scotia Capital (USA) Inc.
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Please
note that:
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TransAlta
has received regulatory approval from the Toronto Stock Exchange for the continuation of its normal course issuer bid program. As in 2007, TransAlta has the
approval to purchase, for cancellation, up to 19,884,460 of its common shares, representing 10 per cent of TransAlta's public float as of April 23, 2008. The normal course issuer
bid program will begin on May 6, 2008 and continue until May 5, 2009, or such earlier date as TransAlta may complete its purchases. Purchases will be made on the open market through the
TSX at the market price of such shares at the time of acquisition. Daily purchases will not exceed 236,119 common shares representing 25 percent of the average daily trading volume for
the six calendar months prior to the date of approval of the bid by the TSX, subject to block purchase exceptions outlined in the TSX rules. TransAlta's average daily trading volume during the last
six calendar months was 944,476 common shares. TransAlta may also issue put options to facilitate the purchase of common shares pursuant to the normal course issuer bid program provided that no
such put options may be issued without prior consent of the TSX.
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On
page S-16 of the Preliminary Prospectus Supplement, revenues for the three months ended March 31, 2007 should be CDN$669 million and
earnings (loss) before income taxes as at December 31, 2006 should be CDN$(81) million.
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On
page S-14 of the Preliminary Prospectus Supplement, in footnote (1) ", $400 million bridge facility" should be inserted immediately after
"$320 million of committed bi-lateral facilities".
Note:
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free
by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it
by calling Citigroup Global Markets Inc. toll free at 1-877-858-5407 or HSBC Securities (USA) Inc. toll free at
1-866-811-8049.
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