Melancthon Wolfe Wind LP, a subsidiary of TransAlta Renewables Inc. completes C$442m bond offering

On October 1, 2015, TransAlta Renewables Inc. completed a C$442 million bond offering for its indirect wholly-owned subsidiary, Melancthon Wolfe Wind LP (the “Issuer”), which is secured by a first ranking charge over all assets of the Issuer, including three wind generating facilities, Melancthon I, Melancthon II and Wolfe Island, all located in the Province of Ontario. The 199.5 MW Melancthon I and II facilities are located near Shelburne, ON and began commercial operations in March 2006 and November 2008, respectively. The 197.8 MW Wolfe Island facility is located near Kingston, ON and began commercial operations in June 2009. The projects are 100% contracted to the IESO for a term of 20 years from commercial operations and utilize proven turbine technology (GE and Siemens). The bonds are amortizing and bear interest from their date of issue at a rate of 3.834%, payable semi-annually and mature on December 31, 2028.

Norton Rose Fulbright Canada LLP represented the Issuer with a team led by Nicole Sigouin and including Andrew Pritchard, Amanda Fortuna, Sandra Nissan, Evelyn Li, Dion Legge, Darren Hueppelsheuser, Marlow Gereluk, Justin Pettigrew, Janet Wong, Michael Lieberman, and Karen Galpern.