TransCanada Replenishes Capacity Available Under At-The-Market Equity Program
June 28 2018 - 5:47PM
News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP)
(TransCanada or Company) today announced that it has replenished
the capacity available under its existing $1.0 billion, or its U.S.
dollar equivalent at-the-market equity program (ATM Program). This
will allow the Company to issue additional common shares from
treasury (Common Shares) having an aggregate gross sales price of
up to $1.0 billion, for a revised total of $2.0 billion, or its
U.S. dollar equivalent (Amended ATM Program), 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 on any other existing trading market
for the Common Shares in Canada or the United States. The Amended
ATM Program, which is effective to July 23, 2019, will be activated
at the Company’s discretion if and as required based on the spend
profile of TransCanada’s capital program and relative cost of other
funding options.
Sales of the Common Shares through the Amended ATM Program will
be made pursuant to the terms of an amended and restated equity
distribution agreement dated June 28, 2018 the Company has signed
with TD Securities Inc., TD Securities (USA) LLC, BMO Nesbitt Burns
Inc., BMO Capital Markets Corp., J.P. Morgan Securities Canada Inc.
and J.P. Morgan Securities LLC (collectively, the Agents).
Sales of Common Shares will be made through “at-the-market
distributions” as defined in National Instrument 44-102 – Shelf
Distributions 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 the sale and, as a result, prices may vary among
purchasers and during the period of distribution.
The Amended ATM Program is being made pursuant to the Company’s
base shelf prospectus dated June 23, 2017, as amended June 25,
2018, and pursuant to prospectus supplements dated June 26, 2017
and June 28, 2018. Copies of these documents are available on SEDAR
at www.sedar.com and EDGAR at www.sec.gov. Alternatively, the
Agents will send the documents upon request by contacting (i) in
Canada, from TD Securities Inc., email: sdcconfirms@td.com,
telephone: 289-360-2009, or (ii) in the United States, from TD
Securities (USA) LLC, telephone: 212-827-7392, and from 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, email:
torbramwarehouse@datagroup.ca, and from J.P. Morgan, Attention:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, telephone: 866-803-9204, email:
prospectus-eq_fi@jpmchase.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.
With more than 65 years' experience, TransCanada is a leader in
the responsible development and reliable operation of
North American energy infrastructure including natural gas and
liquids pipelines, power generation and gas storage facilities.
TransCanada operates one of the largest natural gas transmission
networks that extends more than 91,900 kilometres (57,100 miles),
tapping into virtually all major gas supply basins in North
America. TransCanada is a leading provider of gas storage and
related services with 653 billion cubic feet of storage capacity. A
large independent power producer, TransCanada currently owns or has
interests in approximately 6,100 megawatts of power generation in
Canada and the United States. TransCanada is also the developer and
operator of one of North America’s leading liquids pipeline systems
that extends approximately 4,900 kilometres (3,000 miles),
connecting growing continental oil supplies to key markets and
refineries. TransCanada’s common shares trade on the Toronto and
New York stock exchanges under the symbol TRP.
FORWARD-LOOKING INFORMATION
This publication 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 TransCanada
security holders and potential investors with information regarding
TransCanada and its subsidiaries, including management's assessment
of TransCanada's and its subsidiaries' future plans and financial
outlook. All forward-looking statements reflect TransCanada's
beliefs and assumptions based on information available at the time
the statements were made and as such are not guarantees of future
performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it
is expressed in this news release, and not to use future-oriented
information or financial outlooks for anything other than their
intended purpose. TransCanada undertakes no obligation to update or
revise any forward-looking information except as required 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 Quarterly Report to
Shareholders dated April 26, 2018 and 2017 Annual Report filed
under TransCanada's profile on SEDAR at www.sedar.com and with
the U.S. Securities and Exchange Commission at www.sec.gov.
Media Enquiries:Grady Semmens800.608.7859
TransCanada Investor & Analyst
Enquiries:David Moneta / Duane Alexander403.920.7911 or
800.361.6522
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