TC Energy establishes at-the-market equity program
December 07 2020 - 9:51PM
News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or
Company) today announced that it has established an at-the-market
equity program (ATM Program) that allows the Company to issue
common shares from treasury (Common Shares) having an aggregate
gross sales price of up to $1.0 billion, or its U.S. dollar
equivalent, to the public from time to time, at the Company’s
discretion, at the prevailing market price when sold through the
Toronto Stock Exchange (TSX), the New York Stock Exchange (NYSE) or
any other applicable existing trading market for the Common Shares
in Canada or the United States (ATM Offering). The formal
establishment of the ATM Program, which is effective for a 25-month
period, is consistent with the intent to do so announced by the
Company in conjunction with its decision to proceed with Keystone
XL in March 2020. While not a component of the Company’s base
funding plan, it provides additional financial flexibility in
support of TC Energy’s consolidated credit metrics and capital
program, including the Keystone XL Pipeline Project, and may be
activated if and as deemed appropriate.
The Company entered into an equity distribution agreement dated
December 7, 2020 (Equity Distribution Agreement) with TD Securities
Inc., TD Securities (USA) LLC, BMO Nesbitt Burns Inc., BMO Capital
Markets Corp., Barclays Capital Canada Inc., Barclays Capital Inc.,
Scotia Capital Inc. and Scotia Capital (USA) Inc. (collectively,
the Agents). The Equity Distribution Agreement is available under
the Company’s profile on the SEDAR website at www.sedar.com.
Sales of Common Shares will be made through at-the-market
distributions as defined in National Instrument 44-102 – Shelf
Distributions, and as permitted by applicable law, including on the
TSX, the NYSE or on any other existing trading market for the
Common Shares in Canada or the United States. The Common Shares
will be distributed at the prevailing market prices at the time of
their sale and, as a result, prices may vary among purchasers and
during the period of distribution. The ATM Offering is being made
pursuant to a Canadian and U.S. prospectus supplement dated
December 7, 2020 to the Company’s Canadian short form base shelf
prospectus and U.S. shelf registration statement on Form F-10
(Registration Statement), each dated December 2, 2020.
The Canadian prospectus supplement together with the Canadian
short form base shelf prospectus have been filed and are available
under the Company’s profile on the SEDAR website at www.sedar.com.
The U.S. prospectus supplement together with the U.S. base shelf
prospectus and Registration Statement have been filed and are
available on EDGAR at www.sec.gov. Alternatively, the Agents will
provide the Canadian or U.S. prospectus supplement (together with
the applicable base shelf prospectus) upon request by
contacting:
- In Canada — TD Securities Inc., email: sdcconfirms@td.com,
telephone: 289-360-2009 and Scotia Capital Inc., Attention: Equity
Capital Markets, Scotia Plaza, 64th Floor, 40 King Street West,
Toronto, Ontario M5H 3Y2, telephone: 1-416-863-7704, or by email:
equityprospectus@scotiabank.com; or
- In the United States — TD Securities (USA) LLC, 31 W 52nd
Street, New York, New York 10019, telephone: 212-827-7392; and BMO
Capital Markets, Brampton Distribution Centre C/O The Data Group of
Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2,
telephone: 905-791-3151 ext 4312 or 4322, email:
torbramwarehouse@datagroup.ca; and Barclays Capital Inc., C/O
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, telephone: 888-603-5847, or by email:
barclaysprospectus@broadridge.com; and Scotia Capital (USA) Inc.,
Attention Equity Capital Markets, 250 Vesey Street, 24th Floor, New
York, New York, 10281, telephone: 1-212-225-6853, or by email:
equityprospectus@scotiabank.com.
This news release shall not in any circumstances constitute an
offer to sell or a solicitation of an offer to buy, nor shall there
be any sale of these securities in any jurisdiction in which an
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the applicable securities laws
of any jurisdiction.
About TC Energy We are a vital part of everyday
life — delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our more than 7,500 people make a
positive difference in the communities where we operate across
Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP.
FORWARD-LOOKING INFORMATION This news release
contains certain information that is forward-looking and is subject
to important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "believe",
"may", "will", "should", "estimate", "intend" or other similar
words). Forward-looking statements in this news release are
intended to provide TC Energy security holders and potential
investors with information regarding TC Energy and its
subsidiaries, including management's assessment of TC Energy's and
its subsidiaries' future plans and financial outlook. All
forward-looking statements reflect TC Energy's beliefs and
assumptions based on information available at the time the
statements were made and as such are not guarantees of future
performance. As actual results could vary significantly from the
forward-looking information, you should not put undue reliance on
forward-looking information and should not use future-oriented
information or financial outlooks for anything other than their
intended purpose. We do not update our forward-looking information
due to new information or future events, unless we are required to
by law. For additional information on the assumptions made, and the
risks and uncertainties which could cause actual results to differ
from the anticipated results, refer to the most recent Quarterly
Report to Shareholders and Annual Report filed under TC Energy’s
profile on SEDAR at www.sedar.com and with the U.S. Securities and
Exchange Commission at www.sec.gov.
-30-
Media Enquiries:Jaimie Harding / Hejdi Carlsen
403-920-7859 or 800-608-7859
Investor & Analyst Inquiries: David Moneta
/ Hunter Mau 403-920-7911 or 800-361-6522
PDF
available: http://ml.globenewswire.com/Resource/Download/a2cec8a7-6e58-48ec-b364-a00b66940caa
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