CALGARY, ALBERTA–(Marketwired – June 26, 2017) – News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or Company) today announced that it has established an at-the-market equity program (ATM Program) that allows the Company to issue common shares from treasury (Common Shares) having an aggregate gross sales price of up to $1.0 billion or its U.S. equivalent, to the public from time to time, at the Company’s discretion, at the prevailing market price when issued on the Toronto Stock Exchange (TSX), the New York Stock Exchange (NYSE) or on any other existing trading market for the Common Shares in Canada or the United States. The ATM Program, which is effective for a 25-month period, will be activated at the Company’s discretion if and as required based on the spend profile of TransCanada’s capital program and relative cost of other funding options.
Sales of the Common Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated June 26, 2017 (Equity Distribution Agreement) with TD Securities Inc., TD Securities (USA) LLC, BMO Nesbitt Burns Inc., BMO Capital Markets Corp., J.P. Morgan Securities Canada Inc. and J.P. Morgan Securities LLC (collectively, the Agents).
Sales of Common Shares will be made through “at-the-market distributions” as defined in National Instrument 44-102 – Shelf Distributions on the TSX, the NYSE or on any other existing trading market for the Common Shares in Canada or the United States. The Common Shares will be distributed at the prevailing market prices at the time of the sale and, as a result, prices may vary among purchasers and during the period of distribution. The ATM Offering is being made pursuant to a prospectus supplement dated June 26, 2017 to the Company’s Canadian short form base shelf prospectus and U.S. shelf registration statement on Form F-10, each dated June 23, 2017. The Canadian prospectus supplement together with the base shelf prospectus are available on the SEDAR website at www.sedar.com. The U.S. prospectus supplement together with the U.S. base shelf prospectus and the Registration Statement will be available on EDGAR at www.sec.gov. Alternatively, the Agents will send the Canadian or U.S. prospectus supplement (together with the applicable base shelf prospectus) upon request by contacting (i) in Canada, from TD Securities Inc., email: email@example.com, telephone: 289-360-2009, or (ii) in the United States, from TD Securities (USA) LLC, telephone: 212-827-7392, and from BMO Capital Markets, Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2, telephone: 905-791-3151 Ext 4312, email: firstname.lastname@example.org, and from J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, email: email@example.com.