PIPELINES - FINANCING/ TCPL closes preferreds offering
TransCanada closes offering of Preferred Shares
CALGARY, Oct. 15 /CNW/ - TransCanada PipeLines Limited today announced it
has closed the public offering of its $200 million Cumulative Redeemable First
Preferred Shares Series U. The Series U Shares, offered in Canada at an issue
price of $50 per share, carry an annual dividend of $2.80 per share, payable
quarterly commencing January 30, 1999.
The underwriters are Nesbitt Burns Inc., RBC Dominion Securities Inc.,
CIBC Wood Gundy Securities Inc., ScotiaMcLeod Inc., TD Securities Inc.,
Lévesque Beaubien Geoffrion Inc. and Merrill Lynch Canada Inc.
TransCanada is a leading North American energy services company with
businesses in transmission, marketing, and processing. The company, through
its Cdn$21 billion asset base, provides high value-added energy service
solutions to the North American and international marketplace. Common shares
trade under the symbol TRP, primarily on the Toronto, Montréal and New York
stock exchanges.
-0- 10/15/1998
For further information: Media Contact: Gary Davis/Lisa Neiles, (403) 267-3340; Investor Relations Contact: David Moneta, (403) 267-8521
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