TransCanada PipeLines Completes US$300M Offering

On October 7, 2004, TransCanada PipeLines Ltd. completed the sale of US$300 million aggregate principal amount of 4.875 per cent senior notes due 2015. The notes were sold to a syndicate of underwriters, led by Deutsche Bank Securities Inc., through a prospectus supplement to TransCanada’s US$1 billion shelf registration statement dated May 30, 2003, previously filed with the US Securities and Exchange Commission under the Multijurisdictional Disclosure System. TransCanada intends to use the net proceeds from the offering toward the funding of its pending acquisition of Gas Transmission Northwest Corp.
TransCanada was represented in-house by Bruce Nysetvold; in the US by Mayer, Brown, Rowe & Maw LLP with a team that included Michael Hermsen, Jennifer Keating, Erick Harris and Marsha Khersonskaya, and, for tax matters, Jim Barry and Tom Geraghty; and in Canada by McCarthy Tétrault LLP with a team that included Dale Skinner and Annie Tétrault.
The underwriters were represented in the US by Shearman & Sterling LLP with a team that included Brice Voran, Doug Nathanson and Carole Dagher in Toronto and, for tax matters, Laurence Crouch and Elizabeth Lieb in Menlo Park.