TransCanada Closes $600 Million Preferred Share Issue

Mon Mar 4, 2013 8:30am EST

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Marketwire

TRANSCANADA

March 4, 2013 - 08:30:00 AM

TransCanada Closes $600 Million Preferred Share Issue

CALGARY, ALBERTA--(Marketwire - March 4, 2013) - TransCanada Corporation
(TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it has completed its
public offering of cumulative redeemable first preferred shares, series 7 (the
"Series 7 Preferred Shares"). TransCanada issued 24 million Series 7 Preferred
Shares for aggregate gross proceeds of $600 million through a syndicate of
underwriters co-led by Scotiabank, BMO Capital Markets and RBC Capital
Markets.

The net proceeds of the offering will be used 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 Series 7 Preferred Shares will begin trading today on the TSX under the
symbol TRP.PR.D.

This news release does not constitute an offer to sell or a solicitation of
any offer to buy the preferred shares in any jurisdiction. The preferred
shares offered have not been and will not be registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements.

ABOUT TRANSCANADA 

With more than 60 years' experience, TransCanada is a leader in the
responsible development and reliable operation of North American energy
infrastructure including natural gas and oil pipelines, power generation and
gas storage facilities. TransCanada operates a network of natural gas
pipelines that extends more than 68,500 kilometres (42,500 miles), tapping
into virtually all major gas supply basins in North America. TransCanada is
one of the continent's largest providers of gas storage and related services
with more than 400 billion cubic feet of storage capacity. A growing
independent power producer, TransCanada owns or has interests in over 11,800
megawatts of power generation in Canada and the United States. TransCanada is
developing one of North America's largest oil delivery systems. TransCanada's
common shares trade on the Toronto and New York stock exchanges under the
symbol TRP. For more information visit: www.transcanada.com or check us out on
Twitter @TransCanada or http://blog.transcanada.com.

FORWARD LOOKING INFORMATION 

This publication contains certain information that is forward-looking and is
subject to important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "would", "will" or other
similar words). Forward-looking statements in this document are intended to
provide TransCanada security holders and potential investors with information
regarding TransCanada and its subsidiaries, including management's assessment
of TransCanada's and its subsidiaries' future financial and operation plans
and outlook. All forward-looking statements reflect TransCanada's beliefs and
assumptions based on information available at the time the statements were
made. Readers are cautioned not to place undue reliance on this
forward-looking information. TransCanada undertakes no obligation to update or
revise any forward-looking information except as required by law. For
additional information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the anticipated
results, refer to TransCanada's Management's Discussion and Analysis filed
February 13, 2013 under TransCanada's profile on SEDAR at
http://www.sedar.com/ and other reports filed by TransCanada with Canadian
securities regulators and with the U.S. Securities and Exchange Commission.

FOR FURTHER INFORMATION PLEASE CONTACT: 
TransCanada
Media Enquiries:
Shawn Howard/Grady Semmens
403.920.7859 or 800.608.7859


TransCanada
Investor & Analyst Enquiries:
David Moneta/Lee Evans
403.920.7911 or 800.361.6522
www.transcanada.com
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