Transalta Corp 6-K, filed Nov 15, 2022
Transalta Corp (TAC)
About this 6-K
Transalta Corp filed this 6-K on November 15, 2022.
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2022
Commission File Number 001-15214
TRANSALTA
CORPORATION
(Translation of registrant's name into English)
110-12th Avenue S.W., Box 1900, Station “M”,
Calgary, Alberta, Canada, T2P 2M1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ¨ Form 40-F þ
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). _____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7). _____
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TRANSALTA CORPORATION
| By: | /s/ Todd Stack |
| Name: Todd Stack | |
| Title: Chief Financial Officer |
Date: November 14, 2022
EXHIBIT INDEX
|
Exhibit Number |
Description of Document | |
| 99.1 | “TransAlta Announces Pricing of US$400 Million Senior Green Bond Offering” |
Exhibit 99.1
TransAlta Announces Pricing of US$400 Million Senior Green Bond Offering
CALGARY, AB, Nov. 14, 2022 /CNW/ - TransAlta Corporation ("TransAlta") (TSX: TA) (NYSE: TAC) is pleased to announce that it priced a public offering ("the Offering") of US$400 million aggregate principal amount of its 7.750% senior notes due November 15, 2029, at an issue price equal to 100% of the principal amount of the notes, in an underwritten U.S. public offering. Including the gain on the corresponding interest rate hedges, the issuance equates to an effective yield of approximately 5.982%. Closing of the Offering is expected to occur on or about November 17, 2022.
TransAlta intends to use the net proceeds from the sale of the notes to repay C$100 million drawn on its credit facility and replace balance sheet cash used to fund the repayment in full of TransAlta's 4.500% unsecured senior notes on November 15, 2022 and pay any related fees and expenses. We intend to allocate an amount equal to the net proceeds from this offering to finance or refinance, in part or in full, new and/or existing eligible green projects in accordance with our Green Bond Framework.
The Offering is made pursuant to a preliminary prospectus supplement dated November 14, 2022 to a short form base shelf prospectus of TransAlta dated June 28, 2021, which forms a part of and is included in TransAlta's registration statement on Form F-10, filed in the United States with the U.S. Securities and Exchange Commission ("SEC"). A final prospectus supplement in respect of the offering of the notes will be filed with the SEC. The short form base shelf prospectus and the prospectus supplements contain important detailed information about the notes. Copies of these documents may be obtained without charge by visiting the SEC's EDGAR website at www.sec.gov or from Attention: RBC Capital Markets, 200 Vesey Street, 8th Floor, New York, New York 10281-8098, Telephone: 212-428-6200.
This press release shall not constitute an offer to sell or the solicitation to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration under the securities laws of any such state or jurisdiction. The notes being offered have not been approved or disapproved by the SEC or any Canadian securities regulatory authority, nor has any authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement.
About TransAlta:
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and
Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and
utility customers with clean, affordable, energy efficient and reliable power. Today, TransAlta is one of Canada's largest producers of
wind power and Alberta's largest producer of hydro-electric power. For over 111 years, TransAlta has been a responsible operator and a
proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the
UN Sustainable Development Goals and its climate change strategy with CDP (formerly Climate Disclosure Project) and the Task Force on
Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 61 per cent reduction in GHG emissions since 2015.
Forward Looking Information:
This news release contains "forward-looking information", within the meaning of applicable Canadian securities laws, and "forward-looking
statements", within the meaning of applicable United States securities laws, including the United States Private Securities Litigation
Reform Act of 1995 (collectively referred to herein as "forward-looking statements). In some cases, forward-looking statements can
be identified by terminology such as "plans", "expects", "proposed", "will", "anticipates",
"develop", "continue", and similar expressions suggesting future events or future performance. In particular, this
news release contains, without limitation, statements pertaining to: TransAlta's intention to use the net proceeds from the Offering to
replace balance sheet cash and any indebtedness drawn to fund the repayment in full of TransAlta's 4.500% unsecured senior notes on November
15th, 2022, and pay any related fees and expenses; TransAlta's intention to allocate an equivalent amount to the net proceeds of the Offering
to finance or refinance, in part or in full, new and/or existing eligible green projects in accordance with TransAlta's Green Bond Framework;
and the completion and expected closing date of the Offering. These forward-looking statements are not historical facts but are based
on TransAlta's belief and assumptions based on information available at the time the assumptions were made, including, but not limited
to, the current political and regulatory environment, the price of power in Alberta and the condition of the financial markets. 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: operational risks involving our facilities;
changes in market prices where we operate; unplanned outages at generating facilities and the capital investments required; equipment
failure and our ability to carry out repairs in a cost effective and timely manner, including the Kent Hills remediation; the effects
of weather, catastrophes and public health crises; global supply chain disruptions impacting major maintenance and growth projects; disruptions
in the source of thermal fuels, water, solar or wind required to operate our facilities, including the necessary natural gas supply; energy
trading risks; failure to obtain necessary regulatory approvals in a timely fashion, or at all; inability to satisfy all conditions and
requirements associated with announced growth projects; negative impact to our credit ratings; legislative or regulatory developments
and their impacts; increasingly stringent environmental requirements and their impacts; increased competition; global capital markets
activity (including our ability to access financing at a reasonable cost); changes in prevailing interest rates; currency exchange rates;
inflation levels and commodity prices; armed hostilities, including an escalation of the war in Ukraine; general economic conditions in
the geographic areas where TransAlta operates; disputes or claims involving TransAlta or TransAlta Renewables; and other risks and uncertainties
discussed in TransAlta's materials filed with the securities regulatory authorities from time to time and as also set forth in TransAlta's
MD&A and Annual Information Form for the year ended Dec. 31, 2021. Readers are cautioned not to place undue reliance on these forward-looking
statements, which reflect TransAlta's expectations only as of the date of this news release. The purpose of the financial outlooks contained
in this news release are to give the reader information about management's current expectations and plans and readers are cautioned that
such information may not be appropriate for other purposes and is given as of the date of this news release. TransAlta disclaims any intention
or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise,
except as required by law.
View original content:https://www.prnewswire.com/news-releases/transalta-announces-pricing-of-us400-million-senior-green-bond-offering-301677613.html
SOURCE TransAlta Corporation
View original content: http://www.newswire.ca/en/releases/archive/November2022/14/c1713.html
%CIK: 0001144800
For further information: Investor Inquiries: Phone: 1-800-387-3598 in Canada and U.S., Email: investor_relations@transalta.com; Media Inquiries: Phone: 1-855-255-9184, Email: ta_media_relations@transalta.com
CO: TransAlta Corporation
CNW 17:32e 14-NOV-22