FOR: TRANSCANADA
TSX SYMBOL: TRP
NYSE SYMBOL: TRP
Date issue: June 26, 2017
Time in: 7:51 PM e
Attention:
CALGARY, ALBERTA–(Marketwired – June 26, 2017) – News Release – TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or Company) today announced that
it has established an at-the-market equity program (ATM Program) that allows
the Company to issue common shares from treasury (Common Shares) having an
aggregate gross sales price of up to $1.0 billion or its U.S. equivalent, to
the public from time to time, at the Company’s discretion, at the prevailing
market price when issued on 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 ATM Program, which is effective for
a 25-month period, 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 ATM Program will be made pursuant to the
terms of an equity distribution agreement dated June 26, 2017 (Equity
Distribution Agreement) 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 ATM Offering is being
made pursuant to a prospectus supplement dated June 26, 2017 to the Company’s
Canadian short form base shelf prospectus and U.S. shelf registration statement
on Form F-10, each dated June 23, 2017. The Canadian prospectus supplement
together with the base shelf prospectus are available on the SEDAR website at
www.sedar.com. The U.S. prospectus supplement together with the U.S. base shelf
prospectus and the Registration Statement will be available on EDGAR at
www.sec.gov. Alternatively, the Agents will send the Canadian or U.S.
prospectus supplement (together with the applicable base shelf prospectus) 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 91,500 kilometres (56,900 miles), tapping into
virtually all major gas supply basins in North America. TransCanada is the
continent’s 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 6,200 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 over 4,300 kilometres (2,700 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 May 4,
2017 and 2016 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.
– END RELEASE – 26/06/2017
For further information:
Media Enquiries:
Mark Cooper / James Millar
403.920.7859 or 800.608.7859
OR
TransCanada Investor & Analyst Enquiries:
David Moneta / Stuart Kampel
403.920.7911 or 800.361.6522
COMPANY:
FOR: TRANSCANADA
TSX SYMBOL: TRP
NYSE SYMBOL: TRP
INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170626CC0066
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