- TransAlta ( NYSE: TAC ) has priced a public offering of $400M of its 7.750% senior notes due November 15, 2029.
- The notes are issued at a price equal to 100% of the principal amount of the notes. Including the gain on the corresponding interest rate hedges, the issuance equates to an effective yield of approximately 5.982%.
- Net proceeds from the sale will be used to repay C$100M drawn on credit facility and replace balance sheet cash used to fund the repayment in full of TransAlta's 4.500% unsecured senior notes on November 15, 2022 and pay any related fees and expenses.
- The company also plans to allocate an amount equal to the net proceeds to finance or refinance, in part or in full, new and/or existing eligible green projects in accordance with its Green Bond Framework.
- The offering is expected to close on November 17, 2022.
For further details see:
TransAlta prices $400M senior green bond offering