By Aleesia Forni
Virginia Beach, May 29 - TransAlta Corp. priced an upsized $400 million of 1.9% senior notes due 2017 in Thursday's market at Treasuries plus 120 basis points, according to a FWP filing with the Securities and Exchange Commission.
The notes (Baa3/BBB-) sold at 99.887 to yield 1.939%.
Bookrunners were 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.
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.
| Issuer: | TransAlta Corp.
|
| Amount: | $400 million, upsized from $300 million
|
| Description: | Senior notes
|
| Maturity: | June 3, 2017
|
| Bookrunners: | Bank of America Merrill Lynch, HSBC Securities (USA) Inc.
|
| Co-managers: | Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA), Inc., RBS Securities Inc.
|
| Coupon: | 1.9%
|
| Price: | 99.887
|
| Yield: | 1.939%
|
| Spread: | Treasuries plus 120 bps
|
| Trade date: | May 29
|
| Settlement date: | June 3
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Make-whole call: | Treasuries plus 20 bps
|
| Distribution: | SEC-registered
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
