TransCanada Pipelines Ltd. closes MJDS Offering of US$1.25B Notes

TransCanada PipeLines Limited closed its offering of 4.625 per cent senior notes due 2034 for aggregate gross proceeds of US$1.25 billion under the multi-jurisdictional disclosure system, through a syndicate of underwriters jointly managed by HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC. The net proceeds of the offering will be used for general corporate purposes and to reduce short term indebtedness of TransCanada and its subsidiaries and affiliates.

TransCanada was represented by its in-house counsel Lisa Grams and Kelly Galloway, and assisted, with respect to Canadian matters, by a team at Blake, Cassels & Graydon LLP including Ross Bentley, Jeff Bakker and Trevor Rowles (corporate and securities); and, with respect to US matters, by a team at Mayer Brown LLP including Michael Hermsen, James Lisak and Yasmin Carlos (corporate and securities) and James Barry (tax).

The underwriters were represented by a team at Paul, Weiss, Rifkind, Wharton & Garrison LLP including Christopher Cummings, Ruthie Wahl, Ian Hazlett and Emelia Baack (corporate and securities), and David Mayo and Jenna Harris (tax).