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

DBRS has today assigned a rating of A (low) with a Stable trend to TransCanada PipeLines Limited’s (TCPL) issuance of US$625 million 3.75% senior unsecured medium-term notes maturing on October 16, 2023, and US$625 million 5.00% senior unsecured medium-term notes maturing on October 16, 2043 (collectively, the Notes). The Notes are expected to settle on October 7, 2013.

The Notes 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 short term 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.