TransAlta Corporation: News Release
05 September 2012 - 6:34AM
Marketwired
TransAlta Corporation (TransAlta) (TSX:TA) (NYSE:TAC) announced
today that it is commencing an offering of 19,250,000 of its Common
Shares.
The expected offering price of Cdn $14.30 per Common Share will
result in gross proceeds to TransAlta of approximately Cdn $275
million. TransAlta has granted the underwriters an over-allotment
option to purchase up to an additional 2,887,500 of its Common
Shares at the same price, exercisable in whole or in part at any
time for 30 days following closing of the offering. Gross proceeds
to TransAlta if the over-allotment option is exercised in full are
expected to be approximately Cdn $317 million.
Proceeds from the offering will be used to fund future growth
capital expenditures, including to partially fund the acquisition
of the Solomon power station, to repay short term debt, and for
general corporate purposes. The completion of the offering is not
contingent on the closing of the acquisition of the Solomon power
station. If the acquisition does not close, proceeds from the
offering will be used to fund future growth capital expenditures,
to repay short term debt, and for general corporate purposes.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the Common Shares in any
jurisdiction. The Common Shares offered have not been and will not
be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States
absent registration under the U.S. Securities Act or an applicable
exemption from such registration requirements. The Common Shares
are being offered within the United States only to qualified
institutional buyers and outside the United States in compliance
with Regulation S under the Securities Act.
TransAlta is a power generation and wholesale marketing company
focused on creating long-term shareholder value. TransAlta
maintains a low-to-moderate risk profile by operating a highly
contracted portfolio of assets in Canada, the United States and
Australia. TransAlta's focus is to efficiently operate our
geothermal, wind, hydro, natural gas and coal facilities in order
to provide our customers with a reliable, low-cost source of power.
For 100 years, TransAlta has been a responsible operator and a
proud contributor to the communities where we work and live.
TransAlta is recognized for its leadership on sustainability by the
Dow Jones Sustainability North America Index, the FTSE4Good Index
and the Jantzi Social Index. TransAlta is Canada's largest
investor-owned renewable energy provider.
This news release may contain forward looking statements,
including statements regarding the business and anticipated
financial performance of TransAlta Corporation. These statements
are based on TransAlta Corporation's belief and assumptions based
on information available at the time the assumption was made. These
statements are subject to a number of risks and uncertainties that
may cause actual results to differ materially from those
contemplated by the forward-looking statements. Some of the factors
that could cause such differences include, pricing in the market
place, our inability to enter into long term contracts due to
prevailing market conditions, legislative or regulatory
developments, competition, global capital markets activity, changes
in interest rates, currency exchange rates, inflation levels and
general economic conditions in geographic areas where TransAlta
Corporation operates.
Note: All financial figures are in Canadian dollars unless noted
otherwise.
Contacts: TransAlta Corporation - Investor Inquiries Jess
Nieukerk Director, Investor Relations 1
800-387-3598investor_relations@transalta.com TransAlta Corporation
- Media Inquiries TransAlta Media Relations 1 403-267-3999
www.transalta.com
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