NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" BELOW).
CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation ((TSX, NYSE:TRP) ("TC Energy") today announced that TransCanada PipeLines Limited (the "Company"), a wholly-owned subsidiary of TC Energy, has commenced separate offers (the "Offers") to purchase for cash up to C$350,000,000 (the "Maximum Purchase Amount") in aggregate purchase price, excluding accrued and unpaid interest, of its outstanding notes of the two series listed in the table below (collectively, the "Notes"), which Maximum Purchase Amount may be increased, decreased or waived by the Company in its sole discretion.
Previously today, TC Energy also announced the completion of the spinoff of its Liquids Pipelines business into South Bow Corporation, a separate publicly traded company.
The Offers
The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 1, 2024 relating to the Notes (the "Offer to Purchase"). Capitalized terms used but not defined in this news release have the meanings given to them in the Offer to Purchase.
The amount of Notes purchased in the Offers and the allocation of such amount between the two series listed below will be determined by the Company, in its sole discretion. The Offers may be subject to proration as described in the Offer to Purchase.
Title of Notes(1)
Principal Amount Outstanding (in millions)
CUSIP / ISIN Nos. (1)
ReferenceSecurity(2)
Bloomberg ReferencePage(2)
Fixed Spread (Basis Points)(2)
4.180% Senior Notes due 2048
C$1,100
89353ZCC0 / CA89353ZCC01
CAN 2 ¾ 12/01/55
FIT CAN0-50
160
3.390% Senior Notes due 2028
C$500
89353ZCA4 / CA89353ZCA45
CAN 3 ½ 03/01/28
FIT CAN0-50
