DBRS Rates TransCanada PipeLines Limited’s New Issue at A (low), Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to the US$500 million unsecured medium-term notes (the Notes) issue of TransCanada PipeLines Limited (TCPL). The Notes carry a floating-rate coupon of three-month LIBOR plus 0.68% and mature on June 30, 2016.

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:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodology is Rating North American Pipeline and Diversified Energy Companies (May 2011), which can be found on our website under Methodologies.