CALGARY, Alberta, June 28, 2018 (GLOBE NEWSWIRE) — News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or Company) today announced that it has replenished the capacity available under its existing $1.0 billion, or its U.S. dollar equivalent at-the-market equity program (ATM Program). This will allow the Company to issue additional common shares from treasury (Common Shares) having an aggregate gross sales price of up to $1.0 billion, for a revised total of $2.0 billion, or its U.S. dollar equivalent (Amended ATM Program), to the public from time to time at the Company’s discretion, at the prevailing market price when sold through 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 Amended ATM Program, which is effective to July 23, 2019, 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 Amended ATM Program will be made pursuant to the terms of an amended and restated equity distribution agreement dated June 28, 2018 the Company has signed 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 Amended ATM Program is being made pursuant to the Company’s base shelf prospectus dated June 23, 2017, as amended June 25, 2018, and pursuant to prospectus supplements dated June 26, 2017 and June 28, 2018. Copies of these documents are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Alternatively, the Agents will send the documents upon request by contacting (i) in Canada, from TD Securities Inc., email: firstname.lastname@example.org, 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: email@example.com, and from J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, email: firstname.lastname@example.org.