TransAlta宣布布鲁克菲尔德战略融资初步结束

2019年5月1日

卡尔加里,2019年5月1日-TransAlt威廉希尔a公司(“TransAlta”或“公司”)(TSX:TA公司) (纽约证券交易所:TAC)今天宣布,布鲁克菲尔德可再生能源合作伙伴(Brookfield Renewable Partners)的一个附属公司(Brookfield)先前宣布的7.5亿美元战略投资的初始部分结束。

TransAlta首席执行官道恩•法雷尔(Dawn Farrell)表示:“在实现了这一重要里程碑之后,我们现在可以开始意识到与布鲁克菲尔德的合作和融资带来的好处。”。“我们正迅速采取行动,将资本投入工作,包括推进煤制气转化。”

如前所述,Brookfield将通过购买可交换证券向TransAlta投资7.5亿美元,这些证券在未来可转换为TransAlta阿尔伯塔水电资产的股权,其价值基于水电资产未来调整后的息税折旧及摊销前利润的倍数。在今天的首次交割中,Brookfield向TransAlta投资了3.5亿美元,以换取无担保次级债券;剩余的4亿美元将在2020年10月投资,以换取一系列新的可赎回、可收回的第一优先股,以满足某些习惯性先决条件为前提。就交易而言,TransAlta股东最近在其2019年年度股东大会和特别股东大会上选举了两位经验丰富的布鲁克菲尔德高管Harry Goldgut和Richard Legault加入董事会。

这项投资为推动TransAlta在2025年前向100%清洁能源转型提供了财务灵活性,确认了TransAlta阿尔伯塔水电资产的预期未来价值,也加速了公司向股东返还资本的计划。它还与全球可再生能源行业的领导者之一建立了合作关系,预计将在短期内创造价值,同时推动所有TransAlta股东的长期可持续增长。

进一步信息

更多信息载于公司于2019年3月26日提交的重大变更报告和于2019年3月22日提交的投资协议www.sedar.com网站以及www.sec.gov.网址。关于布鲁克菲尔德战略投资的更多细节将在公司进一步的重大变化报告中提供,存档日期www.sedar.com网站以及www.sec.gov网站在适当的时候。TransAlta和Brookfield在初始交割日签订的最终协议副本也将与重大变更报告一起归档。

关于Tran威廉希尔sAlta公司

TransAlta在加拿大、美国和澳大利亚拥有、运营和开发多种发电资产,注重长期股东价值。我们为市政、大中型工业、企业和公用事业客户提供清洁、经济、节能和可靠的电力。今天,我们是加拿大最大的风力发电商之一,也是阿尔伯塔省最大的水力发电商。100多年来,TransAlta一直是一家负责任的运营商,也是员工工作和生活的自豪社区成员。TransAlta将其公司目标与联合国可持续发展目标结合起来,我们已被CDP(前身为气候信息披露项目)视为气候变化管理的行业领导者。我们也自豪地获得了加拿大原住民商业委员会指定的银水平(进步土著关系)。

有关TransAlta的更多信息,请访问我们的网站www.www.elan-2.com。

前瞻性声明

本新闻稿包含前瞻性陈述和适用的证券法的含义(统称为“转发的前瞻性声明”)的前瞻性信息。All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management’s experience and perception of historical trends, current conditions, results and expected future developments, as well as other factors deemed appropriate in the circumstances. Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as “may”, “will”, “can”, “could”, “would”, “should”, “shall”, “believe”, “expect”, “estimate”, “anticipate”, “intend”, “plan”, “propose”, “project”, “forecast”, “foresee”, “potential”, “enable”, “continue” and similar expressions. These statements are not guarantees of our future performance, events or results and are subject to a number of significant risks, uncertainties and other important factors that could cause our actual performance, events or results to be materially different from those set out in the forward-looking statements. More particularly, and without limitation, this news release contains forward-looking statements relating to: statements relating to the strategic investment by and partnership with Brookfield and its affiliated entities; the timing and probability for completing the proposed second tranche of the Brookfield investment; the ability of the investment to enhance the Company’s financial position and to execute its strategy; the Company’s use of proceeds and strategy, plans and priorities, including as it pertains to reducing debt, growing the renewables business, maintaining, realizing and maximizing the value of the hydro assets, converting coal-fired units to natural gas fired units and returning capital to shareholders; the Company’s relationship with Brookfield and other shareholders; the expected timing, costs and benefits of the strategic investment by and partnership with Brookfield; the expected benefits to be realized from the election of Brookfield’s nominees to the Board of Directors of the Company; the expected higher cash flow and anticipated adjusted EBITDA to be generated by the Alberta hydro assets following expiry of the power purchase arrangement in 2020 or upon the conversion of the exchangeable securities; the expected benefits of Brookfield being a cornerstone shareholder; and the timing, terms and probability of returning capital to shareholders through share buy-backs. These statements are based on TransAlta’s beliefs and assumptions based on information available at the time the assumptions were made, including assumptions pertaining to: the Company’s ability to successfully defend against any existing or potential legal actions or regulatory proceedings, including by Mangrove Partners; the closing of the second tranche of the Brookfield investment occurring and other risks to the Brookfield investment not materializing; no significant changes to regulatory, securities, credit or market environments; the anticipated Alberta capacity market framework in the future; our ownership of or relationship with TransAlta Renewables Inc. not materially changing; the Alberta hydro assets achieving their anticipated future value, cash flows and adjusted EBITDA; the anticipated benefits and financial results generated on the coal-to-gas conversions and the Company’s other strategies; the Company’s and Mangrove’s strategies and plans; no significant changes in applicable laws, including any tax or regulatory changes in the markets in which we operate; the anticipated structure and framework of an Alberta capacity market in the future; risks associated with the impact of the Brookfield investment on the Company’s shareholders, debtholders and credit ratings; assumptions referenced in our 2019 guidance; no material decline in the dividends expected to be received from TransAlta Renewables Inc.; the expected life extension of the coal fleet and anticipated financial results generated on conversion; and assumptions relating to the completion of the strategic partnership with and investment by Brookfield and proposed share buy-backs. The forward-looking statements are subject to a number of risks and uncertainties that may cause actual performance, events or results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include: the failure of the Brookfield’s director nominees to be elected at future shareholders’ meetings; the failure of the second tranche of the Brookfield investment to close; the outcomes of existing or potential legal actions or regulatory proceedings not being as anticipated, including those pertaining to the Brookfield investment; changes in our relationships with Brookfield and its affiliated entities or our other shareholders; our Alberta hydro assets not achieving their anticipated value, cash flows or adjusted EBITDA; the Brookfield investment not resulting in the expected benefits for the Company and its shareholders; the inability to complete share buy-backs within the timeline or on the terms anticipated or at all; fluctuations in demand, market prices and the availability of fuel supplies required to generate electricity; changes in the current or anticipated legislative, regulatory and political environments in the jurisdictions in which we operate; environmental requirements and changes in, or liabilities under, these requirements; the failure of the conditions precedent to the second tranche of the investment to be satisfied; risks associated with the calculation of the hydro assets’ EBITDA, including non-financial measures included in that calculation; the anticipated benefits of the joint Brookfield/TransAlta hydro operating committee not materializing; the timing and value of Brookfield’s exchange of exchangeable securities and the amount of equity interest in the hydro assets resulting therefrom; changes in general economic conditions including interests rates; operational risks involving our facilities; unexpected increases in cost structure; failure to meet financial expectations; structural subordination of securities; and other risks and uncertainties contained in the Company’s Management Proxy Circular dated March 26, 2019 and its Annual Information Form and Management’s Discussion and Analysis for the year ended December 31, 2018, filed under the Company’s profile with the Canadian securities regulators onwww.sedar.com网站以及美国证券交易委员会(SEC)www.sec.gov网站. 我们敦促读者在评估前瞻性声明时仔细考虑这些因素,并提醒读者不要过度依赖这些前瞻性声明,因为这些前瞻性声明仅反映了TransAlta截至本新闻稿发布之日的预期。鉴于这些风险、不确定性和假设,前瞻性陈述可能出现的程度或时间与我们所描述的不同,也可能根本不会出现。TransAlta否认更新或修订这些前瞻性声明的任何意图或义务,无论是由于新信息、未来事件还是其他原因,除非法律要求。本新闻稿中包含的某些财务信息,包括根据Brookfield investment计算息税折旧摊销前利润,可能不是国际财务报告准则(“IFRS”)定义的标准措施,也可能无法与其他实体提出的类似措施相比较。关于布鲁克菲尔德投资和可交换证券的息税折旧及摊销前利润计算的更多信息,应参考公司先前提交的重大变更报告和投资协议,以及进一步的重大变更报告和待提交的最终协议副本,加拿大证券监管机构www.sedar.com网站证券交易委员会www.sec.gov网站.

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