Thursday, TC PipeLines LP (TCLP) commenced an offering of 5 million common units to a syndicate of underwriters led by Citigroup Global Markets Inc., BofA Merrill Lynch, Morgan Stanley and UBS Investment Bank who will act as joint book-running managers of the offering. The underwriters will have a 30-day option to purchase up to an additional 750 thousand units to cover over-allotments, if any.
The partnership expects to use the net proceeds of the offering to reduce debt outstanding under its revolving credit facility and for general partnership purposes.
TC PipeLines LP, together with its subsidiaries, transports natural gas from the western Canada Sedimentary Basin to various downstream markets in the United States. It owns a 46.45% general partner interest in Great Lakes Gas Transmission Limited Partnership, which owns a 2,115 miles natural gas pipeline system that extends across Minnesota, Northern Wisconsin, and Michigan and redelivers gas at the Canadian border at Sault Ste.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.