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TransAlta exercises right not to redeem Series G preferred shares.

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BANKING AND CREDIT NEWS-September 9, 2019-TransAlta exercises right not to redeem Series G preferred shares

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Canada-based TransAlta Corporation (TSX: TA) (NYSE: TAC) has announced its intension not to exercise its right to redeem all or any portion of the currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series G (TSX: TA.PR.J) on the September 30, 2019 conversion date, the company said.

As a result, and subject to certain conditions, the holders of the Series G Shares will have the right to elect to convert all or any of their Series G Shares into Cumulative Redeemable Floating Rate First Preferred Shares, Series H of the Company ("Series H Shares") on the basis of one Series H Share for each Series G Share on the Conversion Date.

As provided in the share terms of the Series G Shares, the foregoing conversion right is subject to the conditions that: if TransAlta determines that there would remain outstanding immediately following the...

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