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TransAlta Closes $400 Million Public Bond Offering

Paul, Weiss advised TransAlta Corporation in its public offering of $400 million of 7.750% green senior unsecured notes due 2029, which closed on November 17. TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of hydro-electric power. It also owns, operates and develops a diverse fleet of electrical power generation assets in the United States and Australia.

TransAlta intends to allocate the net proceeds from the offering to finance or refinance, in part or in full, new and/or existing eligible green projects in accordance with its Green Bond Framework. RBC Capital Markets, LLC, CIBC World Markets Corp. and BofA Securities, Inc. acted as joint bookrunning managers.

The Paul, Weiss team included corporate partner Christopher Cummings; tax partner David Mayo; environmental counsel William O’Brien; and executive compensation counsel Jake Glazeski.

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