TC PipeLines LP Announces Public Offering Of Common Units

Wednesday, 15 May 2013 04:27pm EDT 

TC PipeLines LP announced the commencement of an offering of 7,700,000 common units in an underwritten public offering. The Partnership plans to grant the underwriters a 30-day option to purchase up to 1,155,000 additional common units. The Partnership intends to use the net proceeds of the offering to partially fund the previously announced acquisition of an additional 45 percent interest in each of Gas Transmission Northwest LLC and Bison Pipeline LLC from TransCanada Corporation (TransCanada). The offering is being made under the Partnership's shelf registration statement dated May 15, 2013. Upon closing of the offering and assuming the underwriters do not exercise their option to purchase additional units, TransCanada's ownership in the Partnership will be approximately 30%. Wells Fargo Securities, BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets will act as book-running managers of the offering. 

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15 Sep 2014