TransAlta Announces $400 Million of Medium-Term Notes due 2019
November 12 2009 - 3:30PM
Marketwired
TransAlta Corporation (TSX: TA) (NYSE: TAC) today announced it has
priced an offering of $400 million of 6.40 per cent medium-term
notes due in 2019. The medium-term notes were priced at 99.708 per
cent of the principal amount. 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 (stable) by DBRS and Standard
& Poor's Rating Services, a division of McGraw-Hill, Inc.
RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia
Capital Inc. acted as joint lead agents and book-runners for the
offering. Copies of the final prospectus and pricing supplement
relating to the notes offering may be obtained from the SEDAR
(www.sedar.com) and EDGAR (www.sec.gov) websites.
The offering of the notes was made pursuant to TransAlta's
Canadian $1 billion base short form prospectus that was effective
Nov. 8, 2007.
About TransAlta
TransAlta is a power generation and wholesale marketing company
focused on creating long-term shareholder value. We maintain a
low-risk profile by operating a highly contracted portfolio of
assets in Canada, the United States and Australia. Our focus is to
efficiently operate our coal-fired, gas-fired, hydro and renewable
facilities in order to provide our customers with a reliable,
low-cost source of power. For nearly 100 years, we've been a
responsible operator and a proud contributor to the communities
where we work and live.
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 anticipated use of proceeds of the offering and
expected ratings for the notes.
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,
the failure to use the proceeds of the offering as disclosed herein
and the failure to obtain the anticipated ratings for the notes. 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, External 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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