TransCanada Issues $2B of Senior Notes
TransCanada announced that its wholly-owned subsidiary, TransCanada PipeLines Limited, has successfully completed an offering of US $750 million of 7.125% Senior Notes due January 15, 2019 and US $1.25 billion of 7.625% Senior Notes due January 15, 2039. Net proceeds from the issue will be used to partially fund TransCanada's capital projects, retire maturing debt obligations and for general corporate purposes.
"Our debt issue demonstrates TransCanada's ability to successfully access the capital markets on attractive terms in these uncertain economic times," said Hal Kvisle, TransCanada's president and chief executive officer. "We are pleased with the significant progress we have made towards meeting TransCanada's 2009 capital needs which arise primarily from our portfolio of attractive, low-risk projects currently under construction."
The offering was made in the United States under TransCanada's previously filed shelf prospectus dated January 2, 2009. The offering was co-led by Citigroup Global Markets Inc. and HSBC Securities (America) Inc.
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Company: TransCanada Corporation more info
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