TransCanada has completed its public offering of Common Shares. The offering was announced on November 17, 2008 when TransCanada entered into an agreement with a syndicate of underwriters, led by RBC Capital Markets, BMO Capital Markets and TD Securities Inc. under which they agreed to purchase from TransCanada and sell to the public 30,500,000 common shares.
The purchase price of $33.00 per Common Share resulted in gross proceeds of approximately $1.0 billion. The net proceeds of the offering will be used by TransCanada to partially fund capital projects of the Corporation, including the Keystone Pipeline System, for general corporate purposes and to repay short-term indebtedness.
The Common Shares were issued by way of a prospectus supplement that was filed with securities regulatory authorities in Canada and the U.S. under TransCanada's short form base shelf prospectus dated July 2, 2008.
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