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TransCanada closes preferred share issuance

Published by
World Pipelines,

TransCanada Corporation (TransCanada) has recently announced that it has completed its public offering of cumulative redeemable minimum rate reset first preferred shares, series 15 (the series 15 preferred shares).

TransCanada issued 40 million series 15 preferred shares for aggregate gross proceeds of CAN$1.0 billion through a syndicate of underwriters co-led by Scotiabank, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc.

The net proceeds of the offering will be used for general corporate purposes and to reduce short term indebtedness of TransCanada and its affiliates.

The series 15 preferred shares will begin trading today on the TSX under the symbol TRP.PR.K.

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