Key Developments: TC PipeLines LP (TCP)
45.07USD
21 May 2013
$0.07 (+0.16%)
$44.90
$45.00
$45.24
$44.79
588,161
222,406
$50.27
$38.20
Latest Key Developments (Source: Significant Developments)
TC PipeLines LP Prices Public Offering Of Common Units
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. Full Article
TC PipeLines LP Announces Public Offering Of Common Units
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. Full Article
TransCanada Corp To Sell 45% Interest In GTN And Bison Pipelines To TC PipeLines LP
TransCanada Corp announced it has entered into agreements to sell a 45% interest in each of Gas Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) to TC PipeLines LP (the Partnership) for an aggregate purchase price of $1.05 billion, which includes $146 million for 45% of GTN's debt. The sale is expected to close in July 2013 and is subject to regulatory approvals and certain closing conditions. The proceeds from the sale of a 45 per cent interest in both GTN and Bison will contribute to funding a portion of TransCanada's capital program that includes $26 billion of commercially-secured projects. Once the transaction is complete, TransCanada, through its subsidiaries, will continue to hold an approximately 30% direct ownership interest in both pipelines. TransCanada currently holds a 33 per cent interest in TC PipeLines, LP, a United States Master Limited Partnership, which was formed to acquire, own and actively participate in the management of U.S. natural gas pipelines and related assets. Full Article
TC PipeLines LP Announces 2013 First Quarter Cash Distribution
TC PipeLines LP announced that the board of directors of the Company declared the Partnership's first quarter 2013 cash distribution of $0.78 per common unit. The distribution is unchanged from the fourth quarter 2012 distribution and is payable on May 15, 2013 to unitholders of record as of the close of business on May 6, 2013. Full Article
TC PipeLines LP Announces Appointment Of Chairman
TC PipeLines LP announced that Gregory Lohnes has resigned from his positions as Chairman of the Board and Director of TC PipeLines GP, Inc., the General Partner of the Partnership, effective March 25, 2013. Mr. Lohnes will continue in his role as Executive Vice-President, Operations and Major Projects of TransCanada PipeLines Limited, the indirect parent company of the General Partner and a wholly owned subsidiary of TransCanada Corporation. Also effective March 25, 2013, Karl Johannson has been appointed Chairman of the Board and Director of TC PipeLines GP, Inc. Full Article
TC PipeLines LP Announces Fourth Quarter Cash Distribution
TC PipeLines LP announced that it has declared fourth quarter 2012 cash distribution of $0.78 per common unit. The distribution is unchanged from the third quarter 2012 distribution and represents a 1.3 % increase from the $0.77 per common unit paid in fourth quarter 2011.This cash distribution is payable on February 14, 2013 to unitholders of record at the close of business on January 29, 2013. Full Article
TC PipeLines LP Announces Third Quarter 2012 Cash Distribution
TC PipeLines LP announced that the declared the Partnership's third quarter 2012 cash distribution of $0.78 per common unit. The distribution represents a 1.3% increase over the distribution of $0.77 per common unit paid in the third quarter of 2011. The distribution is payable on November 14, 2012 to unitholders of record as of the close of business on November 5, 2012. Full Article
TC PipeLines, LP Raises Distribution
TC PipeLines, LP announced that the board of directors of TC PipeLines GP, Inc., its general partner, declared the Partnership's second quarter 2012 cash distribution of $0.78 per common unit. The distribution represents a 1.3% increase over the distribution of $0.77 per common unit paid in first quarter 2012. The distribution is payable on August 14, 2012 to unitholders of record as of the close of business on August 3, 2012. Full Article
TC PipeLines, LP Announces 2012 First Quarter Cash Distribution
TC PipeLines, LP announced that the Board of Directors of TC PipeLines GP, Inc., its general partner, declared the Partnership's first quarter 2012 cash distribution of $0.77 per common unit. The distribution is equivalent to the fourth quarter 2011 distribution and represents a 2.7% increase over the distribution of $0.75 per common unit paid in first quarter 2011. The distribution is payable on May 15, 2012 to unitholders of record as of the close of business on May 4, 2012. Full Article
TC PipeLines, LP Announces Fourth Quarter Cash Distribution
TC PipeLines, LP announced that the Board of Directors of TC PipeLines GP, Inc., its general partner, declared the Partnership's fourth quarter 2011 cash distribution of $0.77 per common unit. The distribution is equivalent to the third quarter 2011 distribution and represents a 2.7 per cent increase from the $0.75 per common unit paid in the fourth quarter 2010. This cash distribution paid by the Partnership and is payable on February 14, 2012 to unitholders of record at the close of business on January 31, 2012. Full Article
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