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Canada's TransAlta marketing $300 million sale of three-year notes
By Aleesia Forni
Virginia Beach, May 29 - TransAlta Corp. is in Thursday's market with a $300 million offering of senior notes due 2017, according to a market source and a filing with the Securities and Exchange Commission.
Bookrunners are Bank of America Merrill Lynch and HSBC Securities (USA) Inc.
Proceeds will be used to repay borrowings under an existing credit facility and for general corporate purposes.
The notes feature a change-of-control put at 101%.
TransAlta last tapped the U.S. bond market with a $450 million sale of 4.5% 10-year bonds at 300 basis points over Treasuries on Nov. 2, 2012.
The electricity generation company is based in Calgary, Alta.
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