ReNew Energy Global plc T.RNW

TransAlta Renewables Reports Affiliate's A$800 million

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Debt Offering 2020-10-09 07:12:48 AM ET (MT Newswires)

07:12 AM EDT, 10/09/2020 (MT Newswires) -- TransAlta Renewables Inc. (RNW.TO), which rose 1% and nearer to 52-week highs yesterday, said overnight Thursday that TEC Hedland Pty Ltd. priced an A$800 million senior secured note offering through a private placement, with closing expected Oct. 22.   TransAlta holds an indirect stake in TEC Hedland, which owns the 150 MW South Hedland power station in Western Australia.   TransAlta will receive a portion of the proceeds from the repayment of the issuer's intercompany loans. The company plans to use those proceeds to repay drawn amounts under its credit facility, for general corporate purposes and to fund planned growth initiatives.   The senior secured notes will bear an interest rate of 4.07% per annum and will mature on June 30, 2042. The notes have a preliminary rating of BBB, with a stable trend, by Kroll Bond Rating Agency. Price: 17.74, Change: +0.17, Percent Change: +0.97