Transalta Corp 6-K, filed Oct 30, 2020
Transalta Corp (TAC)
About this 6-K
Transalta Corp filed this 6-K on October 30, 2020.
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 October, 2020
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: October 30, 2020
EXHIBIT INDEX
|
Exhibit Number |
Description of Document | |
| 99.1 | “TransAlta Announces Closing of Second Tranche of Brookfield Strategic Financing” |
Exhibit 99.1
TransAlta Announces Closing of Second Tranche of the Brookfield Strategic Financing
CALGARY, AB, Oct. 30, 2020 /CNW/ - TransAlta Corporation ("TransAlta" or "the Company") (TSX: TA) (NYSE: TAC) today announced the closing of the $400 million second tranche of its previously announced strategic investment by an affiliate of Brookfield Asset Management ("Brookfield"). As previously disclosed, Brookfield committed to invest $750 million in TransAlta through the purchase of exchangeable securities, which are exchangeable in the future into an equity ownership interest in TransAlta's Alberta hydro assets at a value based on a multiple of the hydro assets' future adjusted EBITDA. In connection with today's second closing, Brookfield has invested a total of $750 million in exchangeable securities of TransAlta; consisting of $350 million in unsecured, subordinated debentures issued on May 1, 2019 and a further $400 million in exchange for a new series of redeemable, retractable first preferred shares. The Company intends to use the proceeds from the second tranche of the financing to advance the Company's coal-to-gas conversion program, to fund other growth initiatives, to return capital to its shareholders and for general corporate purposes.
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 100 years, TransAlta has been a responsible
operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable
Development Goals and has been recognized by CDP (formerly Climate Disclosure Project) as an industry leader on Climate Change
Management. TransAlta is proud to have achieved the Silver level PAR (Progressive Aboriginal Relations) designation by the
Canadian Council for Aboriginal Business.
For more information about TransAlta, visit its website at transalta.com.
Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable
securities laws (collectively referred to as "forwarding-looking statements"). All forward-looking statements are based
on our beliefs as well as assumptions based on information available at the time the assumption was made and on management's experience
and perception of historical trends, current conditions, results and expected future developments, as well as other factors deemed
appropriate in the circumstances. Forward-looking statements are not facts, but only predictions and generally can be identified
by the use of statements that include phrases such as "may", "will", "can", "could", "would",
"should", "shall", "believe", "expect", "estimate", "anticipate", "intend",
"plan", "propose", "project", "forecast", "foresee", "potential", "enable",
"continue" and similar expressions. These statements are not guarantees of our future performance, events or results
and are subject to a number of significant risks, uncertainties and other important factors that could cause our actual performance,
events or results to be materially different from those set out in the forward-looking statements. More particularly, and without
limitation, this news release contains forward-looking statements relating to the use of proceeds. The forward-looking statements
are subject to a number of risks and uncertainties that may cause actual performance, events or results to differ materially from
those contemplated by the forward-looking statements. Some of the factors that could cause such differences include: the outcomes
of existing or potential legal actions not being as anticipated, including those pertaining to the Brookfield investment; changes
in our relationships with Brookfield and its affiliated entities or our other shareholders; our Alberta hydro assets not achieving
their anticipated value, cash flows or adjusted EBITDA; the Brookfield investment not resulting in the expected benefits for the
Company and its shareholders; the ability to identify and execute on growth initiatives; and other risks and uncertainties contained
in the Company's Management Proxy Circular and its Annual Information Form and Management's Discussion and Analysis for the year
ended December 31, 2019, filed under the Company's profile with the Canadian securities regulators on www.sedar.com and
the U.S. Securities and Exchange Commission ("SEC") on www.sec.gov. Readers are urged to consider these factors
carefully in evaluating the forward-looking statements and 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. In light of these risks, uncertainties and assumptions,
the forward-looking statements might occur to a different extent or at a different time than we have described, or might not occur
at all. 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:http://www.prnewswire.com/news-releases/transalta-announces-closing-of-second-tranche-of-the-brookfield-strategic-financing-301163881.html
SOURCE TransAlta Corporation
View original content: http://www.newswire.ca/en/releases/archive/October2020/30/c0856.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: Toll-free media number: 1-855-255-9184, Email: ta_media_relations@transalta.com
CO: TransAlta Corporation
CNW 09:23e 30-OCT-20