TC PipeLines LP Prices Public Offering Of Common Units

Thursday, 16 May 2013 06:37pm EDT 

TC PipeLines LP announced that it has priced the public offering of 7,700,000 common units at $43.85 per unit. Gross proceeds of approximately $338 million from this offering will be used to partially fund the previously announced acquisition of an additional 45% interest in each of Gas Transmission Northwest LLC and Bison Pipeline LLC (the Acquisition) from TransCanada Corporation). The offering is expected to close on May 22, 2013. TC PipeLines, LP has granted a syndicate of underwriters led by Wells Fargo Securities, BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets who are acting as book-running managers a 30-day option to purchase up to an additional 1,155,000 common units. If the underwriters exercise their option to purchase additional units, the Partnership intends to use the additional net proceeds to fund an additional amount of the Acquisition. 

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