Transcanada Closes C$1bn preferred share financing

November 21, 2016

Client: TransCanada Corporation

At the request of TransCanada Corporation, Norton Rose Fulbright is the designated Canadian counsel to the underwriters for all TransCanada Corporation’s, and its affiliates, financings. We advised on the following 2016 transactions, two of which were simultaneously offered in both Canada and the U.S. which added complexity with regards to timing and completion:

  • Canadian counsel to the underwriters, led by RBC Capital Markets and TD Securities Inc., on TransCanada Corporation’s C$4.4 billion bought deal subscription receipt offering. We also represented the syndicate of lenders under TransCanada's US$10.3 billion bridge debt financing commitments, where the proceeds from the offering and the bridge facilities supported TransCanada’s acquisition of Columbia Pipeline Group for US$13 billion.
  • Canadian counsel to the underwriters, led by TD Securities Inc., BMO Capital Markets and RBC Capital Markets, on TransCanada Corporation’s C$3.5 billion bought deal common share offering in Canada and the United States.
  • Canadian counsel to the underwriters in connection with TransCanada Trust's public offering in the United States of Hybrid Trust Notes Due 2076 for aggregate gross proceeds of US$1.2 billion.
  • Canadian counsel to Scotia Capital Inc., and a syndicate of underwriters in connection with a C$1 billion offering by TransCanada Corporation of redeemable minimum rate reset first preferred shares.
  • Counsel to the underwriters in connection with TransCanada Corporation’s public offering in Canada of medium term note debentures totalling C$1.0 billion.