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TransAlta updates on liquidity position

Apr. 07, 2020 8:46 AM ETTransAlta Corporation (TAC) Stock, TA:CA StockBy: Mohit Manghnani, SA News Editor
  • TransAlta's (NYSE:TAC) facilities are fully operational with the health recommendations related to COVID-19 as they provide 'essential services'.
  • On the liquidity front, the company has access to $1.7B (including $330M in cash) and are scheduled to receive $400M as second tranche of the Brookfield investment. This is sufficient for debt maturity in Nov 2020 and the next major debt repayment comes in Nov 2022.
  • More than 50% of its baseload merchant generation in Alberta is hedged in $52/MWh for the rest of 2020.
  • The company expects to fund both preferred and common stock dividends and is continuing with the stock buyback program subject to blackout periods.
  • On the Capex front, TransAlta continues to progress each of its construction projects and are focused on natural gas conversion strategy.

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