Calgary, Alberta-based TransAlta Corp. has priced an offering of C$400 million in 6.40% medium-term notes due in 2019. The medium-term notes were priced at approximately 99.7% 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 stable by DBRS and Standard & Poor's Rating Services.
RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc. acted as joint lead agents and book-runners for the offering.
SOURCE: TransAlta Corp.
