TC Energy announces closing of U.S. $800 million subordinated notes offering by TransCanada Trust

TC Energy

Firstly, TC Energy Corporation announced that TransCanada Trust, a wholly-owned financing trust subsidiary of TransCanada PipeLines Limited; closed an offering of U.S. $800 million of 5.600% subordinated Trust Notes. Series 2022-A due March 7, 2082 guaranteed on a subordinated basis by TCPL. 

Secondly, a syndicate of underwriters, co-led by Deutsche Bank Securities Inc. and MUFG Securities Americas Inc. offered the notes. Under the Trust’s short form base shelf prospectus dated Feb. 26, 2021, as supplemented by a prospectus supplement dated March 2, 2022.

Thirdly, the Company intends to use the proceeds to redeem its issued and outstanding Cumulative Redeemable Minimum Rate Reset First Preferred Shares, Series 15 (TSX:TRP.PR.K) pursuant to their terms; and pending such redemption, to reduce short-term indebtedness as well as for general corporate purposes.

Finally, the Trust Notes are in process of approve or disapprove by any regulatory authority. Also, the Trust Notes are not register under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States or to, or for the account or benefit of, United States persons.

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About TC Energy

The company is a vital part of everyday life. It delivers the energy to millions of people rely on to power their lives in a sustainable way. 

Also, thanks to a safe, reliable network of natural gas and liquids pipelines, along with power generation and storage facilities, wherever life happens, the company is there. 

Finally, TC Energy works with core values of safety, innovation, responsibility, collaboration, and integrity.

The people make a positive difference in the communities across Canada, the U.S., and Mexico.

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