TransCanada PipeLines Ltd. entered an underwriting agreement with investment firms for the sale of senior notes worth $1.4 billion, according to an Oct. 11 SEC filing.
The TransCanada Corp. unit is selling $400 million of 4.250% senior notes due 2028 at a purchase price of 98.533% of par, and $1.0 billion of 5.100% senior notes due 2049 at a purchase price of 99.728% of par.
TransCanada PipeLines may redeem the 2028 notes at any time before Feb. 15, 2028, and the 2049 notes at any time before Sept. 15, 2048.
J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are acting as joint bookrunners, while Citigroup Global Markets Inc., MUFG Securities Americas Inc., Credit Suisse Securities (USA) LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America Inc., Merrill Lynch Pierce Fenner & Smith Inc., Barclays Capital Inc. and Wells Fargo Securities LLC are acting as co-managers.
TransCanada PipeLines operates natural gas pipelines in the U.S., Canada and Mexico, as well as liquids pipelines.