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TransCanada closes C$4.4B bought deal offering for Columbia Pipeline acquisition

has completedits C$4.4 billion bought deal offering of subscription receipts carried out topartly fund its proposedacquisition of Columbia Pipeline Group Inc., according to an April 1news release.

The companyissued a total of 96,600,000 subscription receipts, including 4,600,000acquired by the underwriters in full exercise of their overallotment option.

Holders areentitled to receive one TransCanada common share per subscription receiptautomatically upon closing of the acquisition of Columbia Pipeline bysubsidiaries of TransCanadaPipeLines Ltd., expected to occur in the second half of the year.

Holderswill also be entitled to receive cash payments equivalent to dividends declaredby TransCanada on each common share while the subscription receipts remainoutstanding, to be paid out concurrently with the payment date of the relatedcommon share dividends, according to the release.

The grossproceeds will initially be held in escrow by Computershare Trust Co. of Canada,to be invested in interest-bearing deposits with banks and other financialinstitutions. The cash payments for the subscription receipts may be made fromthe escrowed funds and the interest credited or received from time to time.

Theunderwriters in this transaction are led by RBC Capital Markets and TDSecurities Inc. The subscription receipts are scheduled to begin trading on theToronto Stock Exchange on April 1 under the symbol TRP.R.