TransAlta markets potential debenture offering, wraps roadshow, files C$400 million shelf

By Cristal Cody

Tupelo, Miss., Nov. 19 - TransAlta Corp. (Baa3/BBB-/DBRS: BBB) is expected to be in the market soon with a debt offering after the company held a roadshow the previous week and filed a prospectus supplement to sell up to C$400 million of medium-term note debentures over a 25-month period, according to informed sources.

"They've been marketing, and we expect to see something in the reasonable near future," one source said.

TransAlta held a roadshow in Canada and an investor call over the previous week that wrapped in Montreal on Friday, another source said.

RBC Dominion Securities Inc. hosted the roadshow.

TransAlta's filing on Monday is a supplement to the company's C$2 billion Nov. 15, 2011 shelf prospectus for common shares, first preferred shares, warrants, subscription receipts and debt securities.

The syndicate for the debenture offerings will include RBC; BMO Nesbitt Burns Inc.; CIBC World Markets Inc.; HSBC Securities (Canada) Inc.; Merrill Lynch Canada Inc.; National Bank Financial Inc.; Scotia Capital Inc. and TD Securities Inc.

Proceeds will be used to repay debt, finance the company's long-term investment plan and growth projects and for other general corporate purposes.

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

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