Posted AT 12:17 PM EST on 10/11/09
TransAlta nails down Canadian Hydro financing
Utility TransAlta locked down financing for its recent acquisition of Canadian Hydro Developers by selling $500-million (U.S.) of six year bonds. The fixed income outing on Tuesday comes on the heels of a $412.5-million (Canadian) stock sale from TransAlta that closed early in November. Both financings are meant to rebuild the Calgary-based company's balance sheet, by replacing loans from Royal Bank of Canada that initially paid for the $1.6-billion acquisition of Canadian Hydro.
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