TransCanada Corporation Closes Offering Of Preferred Shares

On March 2, 2015, TransCanada Corporation (TransCanada) closed its public offering of cumulative redeemable first preferred shares, series 11 (the Series 11 Preferred Shares). Pursuant to the offering, TransCanada issued 10 million Series 11 Preferred Shares for aggregate gross proceeds of $250 million through a syndicate of underwriters co-led by Scotiabank and RBC Capital Markets. 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/securities) and Carrie Aiken and Corinne MacCarthy (tax).

The underwriters were represented by a team at Norton Rose Fulbright Canada LLP including Don Tse, Chris Wolfenberg and Jason Giborski (corporate/securities) and Dion Legge (tax).