CALGARY, Alberta, Oct. 08, 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 released the pricing terms of its previously announced separate offers (the "Offers") to purchase for cash up to US$1,750,000,000 aggregate principal amount of its outstanding notes of the series listed in the table below (collectively, the "Notes").
The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated Oct. 1, 2024 relating to the Notes (the "Offer to Purchase") and the notice of guaranteed delivery attached as Appendix A thereto (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Tender Offer Documents"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.
Set forth in the table below is the applicable Total Consideration for each series of Notes, as calculated as of 2 p.m. (Eastern time) today, Oct. 8, 2024, in accordance with the Offer to Purchase.
Acceptance Priority Level(1)
Title of Notes(2)
Principal Amount Outstanding (in millions)
CUSIP / ISIN Nos. (2)
Reference Security(4)
Reference Yield
Bloomberg Reference Page(4)
Fixed Spread (Basis Points)(4)
Total Consideration(3)(4)
1
2.500% Senior Notes due 2031
US$1,000
89352HBC2 / US89352HBC25
3.875% U.S. Treasury due Aug.15, 2034
4.031%
FIT1
+35
$887.76
2
5.000% Senior Notes due 2043
US$625
89352HAL3 / US89352HAL33
4.125% U.S. Treasury due Aug. 15, 2044
4.387%
FIT1
+90
$965.85
3
4.875% Senior Notes due 2048
US$1,000
89352HAY5 / US89352HAY53
4.625% U.S. Treasury due May 15, 2054
4.316%
