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TransAlta Renewables to pay debt with $150MM issue

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TransAlta Renewables has closed a bought deal offering of 11.9 million shares for $12.65 each to raise gross proceeds of $150 million. Net proceeds of the offering will be used to pay down the company’s credit facility, which was drawn to fund recent acquisitions. The additional liquidity under the credit facility will be used to boost the company’s working capital. The shares were purchased by a syndicate of underwriters co-led by CIBC World Markets......
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