TransCanada Clinches $1.6B Common Share Offering

TransCanada has completed its public offering of common shares. The offering was announced on June 16, 2009 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 50,800,000 common shares.

The purchase price of $31.50 per common share resulted in gross proceeds of approximately $1.6 billion. The net proceeds of the offering will be used by TransCanada to partially fund capital projects of the Corporation, including the acquisition of an additional interest in the Keystone Pipeline System, for general corporate purposes and to repay short-term indebtedness.

TransCanada has granted the underwriters an option to purchase up to an additional 7,620,000 common shares at a price of $31.50 per common share at any time up to 30 days after the closing of the offering.

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 which was previously filed with securities regulatory authorities across Canada and in the United States under the multi-jurisdictional disclosure system.


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