TC Energy announces consideration of subordinated notes offering by TransCanada Trust
March 02 2022 - 8:55AM
News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or
the Company) today announced that TransCanada Trust (the Trust), a
wholly-owned financing trust subsidiary of TransCanada PipeLines
Limited (TCPL), is considering an offering of subordinated trust
notes (Trust Notes), guaranteed on a subordinated basis by TCPL,
under the Trust's short form base shelf prospectus dated Feb. 26,
2021.
If a successful offering is completed, the Company intends to
use the proceeds to redeem its issued and outstanding Cumulative
Redeemable Minimum Rate Reset First Preferred Shares, Series 15
(TSX:TRP.PR.K) pursuant to their terms, and pending such
redemption, to reduce short-term indebtedness as well as for
general corporate purposes. There is no certainty that the Trust
will ultimately complete the offering being considered or as to the
timing or terms on which such an offering might be completed.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the Trust Notes. The Trust Notes
have not been approved or disapproved by any regulatory authority.
The Trust Notes have not been and will not be registered under the
United States Securities Act of 1933, as amended, or any state
securities law, and may not be offered or sold within the United
States or to, or for the account or benefit of, United States
persons.
About TC EnergyWe 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 liquids pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, innovation,
responsibility, collaboration and integrity, our 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. To learn more,
visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis 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 document 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.
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Media Inquiries:Jaimie Harding / Suzanne
Wiltonmedia@tcenergy.com 403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:David Moneta /
Gavin Wylie / Hunter Mauinvestor_relations@tcenergy.com403-920-7911
or 800-361-6522
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