Transalta to offer $200 million of five-year notes
TransAlta Corp. (TSX:TA) is offering $200 million of five-year notes, with net proceeds to be used by the power-plant company to repay debt, finance investments and for general corporate purposes. The Calgary-based company said the notes, which mature in 2014, will be priced at 99.823 per cent of the face value of the notes, which and pay 6.45 per cent annual interest.
If held to maturity, the notes would yield 6.49 per cent. TransAlta operates coal-fired, gas-fired, water-powered and renewable power plants in Canada, the United States and Australia.
It said last week that major maintenance at the Sundance 3 generating plant, 70 km west of Edmonton, has been rescheduled for the second half of 2009 instead of next spring.
Canada must pick its battles as U.S. climate legislation moves ahead
Canada pumps more oil into America than any other nation, but the United States isn’t even thinking about its northern neighbour as it barrels ahead with unprecedented environmental legislation, says the head of a federal roundtable on the environment and economy. “In the next two months, with a degree of rapidity which is frightening, a whole series of decisions will be made in Washington and then come back to us and influence us here in Canada,” Robert Page told a business audience Tuesday. The ambitious American Clean Energy and Security Act came one step closer to passing into law last week when it cleared a U.S. house committee. The sweeping, nearly 1,000-page bill charts the country’s plans for drastically reducing carbon emissions over the coming decades. So far, it’s being done without much thought to Canada, said Page, a former business executive, who has sat on American climate change boards and has close contacts with Republicans and Democrats.