TC PipeLines, LP (TCLP) said it has priced the public offering of 5 million common units at $38.00 per unit. The offering, announced on November 12, 2009 is expected to close on November 18, 2009.
TC PipeLines, LP has granted 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, a 30-day option to purchase up to an additional 750 thousand common units to cover over-allotments, if any.
The Partnership expects to receive net proceeds of approximately $185.4 million or $213.3 million if the underwriters exercise their option to purchase an additional 750 thousand common units from the offering. The net proceeds include a capital contribution from its general partner to maintain its two per cent interest in the Partnership. In addition, the net proceeds of the offering are expected to be used to reduce debt outstanding under the Partnership's revolving credit facility and for general Partnership purposes.
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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.