TC Energy Corporation announced that its subsidiary, TransCanada PipeLines Limited (TCPL), is considering an offering of U.S. Junior Subordinated Notes. This potential offering is part of TCPL's strategy to manage its capital structure.
If the offering is successfully completed, TCPL intends to use the net proceeds to redeem its issued and outstanding Cumulative Redeemable First Preferred Shares, Series 11 (TSX:TRP.PR.G). The funds would also be allocated to reduce indebtedness and for general corporate purposes.
The company noted that there is no certainty regarding the completion of the offering or its timing and terms. This move aims to optimize TC Energy's financing and reduce specific outstanding liabilities.
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