TransCanada Completes $1.25B Offering
TransCanada announced that its wholly-owned subsidiary, TransCanada PipeLines Limited, has successfully completed an offering of US $500 million of 3.40% Senior Notes due June 1, 2015, and US $750 million of 6.10% Senior Notes due June 1, 2040.
The net proceeds of the offering are expected to be used to partially fund capital projects of TransCanada, for general corporate purposes and to reduce short term indebtedness of TransCanada and its affiliates, which short term indebtedness was used to fund TransCanada’s capital program and for general corporate purposes.
The offering was made in the United States under TransCanada PipeLines Limited's previously filed shelf prospectus dated December 17, 2009. The offering was led by Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc.
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