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TransCanada’s Preferred Shares Close At CA $450 Million

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January 21, 2014

A public offering of cumulative, redeemable first preferred shares was closed for CA $450 million in aggregate, gross proceeds by TransCanada Corp. (NYSE: TRP), the company said Jan. 20. The shares were Series 9, and 18 million of them had been issued through underwriters co-led by Scotiabank (NYSE: BNS), BMO Capital Markets and RBC Capital Markets, the company added.

The shares began trading Jan. 20 on TSX, under the symbol "TRP.PR.E," the company noted.

Net proceeds will be used for general corporate purposes and for debt reduction, the company said. ...

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