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TransAlta prices offering of $500M senior notes due 2018

By Associated Press
May 6, 2008 | Comments (0)

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Canadian power producer TransAlta Corp. said Tuesday it has priced an offering of $500 million of 6.65 percent senior notes due 2018.

The senior notes were priced at 99.724 percent for yield to maturity of 6.688 percent.

TransAlta said the net proceeds from the offering will be used to repay debt, to finance the company's long-term investment plan and for general corporate purposes.

The notes have been assigned investment-grade ratings of "Baa2" by Moody's Investor Service and "BBB" by Standard & Poor's Rating Services, the company said.

Citigroup Global Markets and HSBC Securities served as joint book-running managers for the offering.

The offering was made under TransAlta's $1 billion base shelf registration, which was effective Oct. 16, 2006.

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