DBRS Rates TransCanada PipeLines Limited’s New Issues at “A”, Stable Trend

DBRS has today assigned a rating of “A” with a Stable trend to the following TransCanada PipeLines Limited (TCPL) new debt issuance:

(1) Proposed $500 million 3.65% unsecured medium-term notes maturing on November 15, 2021.

(2) Proposed $250 million 4.55% unsecured medium-term notes maturing on November 15, 2041.

The issues are expected to settle on November 15, 2011.

The new debt will rank equally, except as to sinking funds, with all of TCPL’s existing and future senior unsecured debt. Net proceeds from the offering will be used to repay indebtedness and for general corporate purposes.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating North American Pipeline and Diversified Energy Companies, which can be found on the DBRS website under Methodologies.