CALGARY, ALBERTA–(Marketwired – Nov. 16, 2016) – News Release – TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced that it has completed its public offering of Common Shares. The Offering was announced on November 1, 2016 when TransCanada entered into an agreement with a syndicate of underwriters led by TD Securities, BMO Capital Markets and RBC Capital Markets under which they agreed to purchase from TransCanada and sell to the public 60,225,000 Common Shares which includes the full exercise by the underwriters of an over-allotment option granted to them.
The purchase price of $58.50 per Common Share resulted in total gross proceeds of approximately $3.5 billion. Proceeds from the offering will be used to repay a portion of the US$6.9 billion senior unsecured asset sale bridge term loan credit facilities which were used to partially finance the Columbia Pipeline Group, Inc. acquisition.
The Common Shares were issued by way of a short form prospectus that was filed with securities regulatory authorities in Canada and with the Securities and Exchange Commission (SEC) in the United States under the multijurisdictional disclosure system.
With more than 65 years’ experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 90,300 kilometres (56,100 miles), tapping into virtually all major gas supply basins in North America. TransCanada is the continent’s leading provider of gas storage and related services with 664 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in over 10,500 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America’s leading liquids pipeline systems that extends over 4,300 kilometres (2,700 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada’s common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.