TransAlta greenshoe exercised, ups series E preferreds by C$75 million

By Tali David

Minneapolis, Aug. 3 - TransAlta Corp. said the over-allotment option on its offering of series E cumulative redeemable floating-rate reset first preferred shares was exercised in full, increasing the offering by 3 million shares, according to a press release.

The aggregate gross proceeds of the offering is now C$225 million.

As previously reported, the company originally sold 6 million shares of the series E stock at C$25.00 per share for a total of C$150 million.

CIBC World Markets Inc., RBC Capital Markets Corp. and Scotia Capital Inc. were the lead managers.

Proceeds from the sale will be used to partially fund capital projects, for other general corporate purposes and to reduce short-term debt.

TransAlta is a Calgary, Alta.-based power company.

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