TC Energy announces closing of US$350 million Junior Subordinated Notes Offering by TransCanada PipeLines Limited and redemption of Cumulative Redeemable First Preferred Shares, Series 11
TC Energy (TSX, NYSE: TRP) announced that TransCanada PipeLines Limited closed a US$350 million offering of 6.250% Fixed-for-Life Junior Subordinated Notes due Nov. 1, 2085. The company intends to use net proceeds to redeem its issued and outstanding Cumulative Redeemable First Preferred Shares, Series 11 at $25.00 per share on Nov. 28, 2025. The company provided notice to the sole registered holder and expects, subject to board approval, to declare a final quarterly dividend of $0.2094375 per Series 11 Share payable on Nov. 28, 2025 to holders of record on Nov. 17, 2025. After redemption the Series 11 Shares will cease dividend rights and will be delisted from the Toronto Stock Exchange.
TC Energy (TSX, NYSE: TRP) ha annunciato che TransCanada PipeLines Limited ha chiuso un'offerta da US$350 milioni di Note subordinate fisse-per-vita junior a tasso del 6,250% con scadenza 1 novembre 2085. L'azienda intende utilizzare i proventi netti perRimborsare le proprie Azioni Preferenziali Ordinarie, Serie 11 rimborsabili, cumulative, al prezzo di $25,00 per azione il 28 novembre 2025. L'azienda ha fornito notifiche all'unico detentore registrato e prevede, soggetto all'approvazione del consiglio, di dichiarare un dividendo trimestrale finale di $0,2094375 per azione Serie 11, pagabile il 28 novembre 2025 agli azionisti registrati al 17 novembre 2025. Dopo il rimborso, le azioni Serie 11 perderanno i diritti al dividendo e saranno ritirate dalla quotazione al Toronto Stock Exchange.
TC Energy (TSX, NYSE: TRP) anunció que TransCanada PipeLines Limited cerró una oferta de US$350 millones de Notas Subordinadas Fijas de por Vida Junior al 6,250% con vencimiento el 1 de novimebre de 2085. La empresa tiene la intención de usar los ingresos netos para redimir sus Acciones Preferentes Comunes, Serie 11 redimibles acumulativas a $25.00 por acción el 28 de noviembre de 2025. La empresa notificó al único titular registrado y espera, sujeto a la aprobación de la junta, declarar un dividendo trimestral final de $0.2094375 por acción de la Serie 11 pagadero el 28 de noviembre de 2025 a los titulares registrados al 17 de noviembre de 2025. Después del redención, las acciones Serie 11 dejarán de tener derechos de dividendo y serán retiradas de la Bolsa de Toronto.
TC Energy (TSX, NYSE: TRP)가 TransCanada PipeLines Limited가 2085년 11월 1일 만기 6.250% 고정-평생 Junior Subordinated Notes의 미화 3억 5천만 달러 규모의 공모를 마감했다고 발표했습니다. 회사는 순수익을 사용해 Series 11의 누적 상환 가능한 제1 우선주를 주당 25.00달러에 상환할 예정이며, 2025년 11월 28일에 상환합니다. 회사는 유일한 등록 보유자에게 통지를 제공했고, 이사회 승인을 조건으로 2025년 11월 28일에 Series 11 주당 0.2094375달러의 최종 분기 배당금을 2025년 11월 17일에 주주명부에 등재된 주주들에게 지급할 것을 선언할 예정입니다. 상환 후 Series 11 주식은 배당 권리를 잃고 Toronto Stock Exchange에서 상장폐지될 것입니다.
TC Energy (TSX, NYSE: TRP) a annoncé que TransCanada PipeLines Limited a clôturé une offre de 350 millions de dollars américains d'Obligations Subordonnées Junior à Teneur Fixe à Vie au taux de 6,250% échéant le 1er novembre 2085. L'entreprise a l'intention d'utiliser le produit net pour racheter ses Actions Privées First Redeemable, Series 11 rachetables cumulatives par 25,00 $US par action le 28 novembre 2025. La société a notifié au seul porteur enregistré et prévoit, sous réserve de l'approbation du conseil, de déclarer un dividende trimestriel final de 0,2094375 $ par action de la Série 11, payable le 28 novembre 2025 aux porteurs enregistrés au 17 novembre 2025. Après le rachat, les actions de la Série 11 cesseront leurs droits au dividende et seront radiées de la Toronto Stock Exchange.
TC Energy (TSX, NYSE: TRP) gab bekannt, dass TransCanada PipeLines Limited eine US$350 Millionen schwere Emission von 6,250% Fixed-for-Life Junior Subordinated Notes fällig am 1. November 2085 abgeschlossen hat. Das Unternehmen beabsichtigt, die Nettomittel zu verwenden, um seine ausgegebenen und ausstehenden Cumulative Redeemable First Preferred Shares, Series 11 zu je $25,00 pro Aktie am 28. November 2025 zurückzuzahlen. Das Unternehmen hat dem einzigen registrierten Inhaber eine Mitteilung zukommen lassen und erwartet, vorbehaltlich der Zustimmung des Vorstands, eine endgültige vierteljährliche Dividende in Höhe von $0,2094375 pro Series-11-Aktie auszuschütten, zahlbar am 28. November 2025 an die Inhaber, die am 17. November 2025 im Aktienregister stehen. Nach der Rückzahlung werden die Series-11-Aktien keine Dividendenrechte mehr haben und von der Toronto Stock Exchange abgemeldet.
TC Energy (TSX, NYSE: TRP) أعلنت أن TransCanada PipeLines Limited أغلقت عرضاً بقيمة 350 مليون دولار أمريكي لـ سندات فرعية مميزة دائمة عالية العائد بنسبة 6.250% حتى 1 نوفمبر 2085. وتعتزم الشركة استخدام صافي العائد لإعادة شراء أسهمها المفضلة أولية قابلة للاسترداد، من النوع Series 11 بمعدل $25.00 للسهم في 28 نوفمبر 2025. ووردت الشركة إلى علم الحائز المسجل الوحيد وتتوقع، رهناً بموافقة المجلس، إعلان توزيع ربع سنوي نهائي قدره $0.2094375 للسهم من فئة Series 11 قابلاً للدفع في 28 نوفمبر 2025 للملاك المسجلين في 17 نوفمبر 2025. بعد الاسترداد ستتوقف حقوق توزيعات الأسهم من فئة Series 11 وسيتم إدراجها من بورصة تورونتو.
TC Energy (TSX, NYSE: TRP)宣布 TransCanada PipeLines Limited 完成一项3.5亿美元的 6.250% 固定终身型初级次级债券，到期日为2085年11月1日。公司拟将净收益用于赎回其已发行在外的 累积可赎回第一优先股，系列11，价格为每股 $25.00，赎回日为 2025年11月28日。公司已向唯一的登记持有人发出通知，并预计在董事会批准的前提下，宣布系列11股票每股最终季度股息为 $0.2094375，于 2025年11月28日支付，登记股东为 2025年11月17日登记在册的股东。在赎回后，系列11股票将停止分红权并从多伦多证券交易所退市。
- Raised US$350 million via 6.250% junior subordinated notes
- Notes maturity set for Nov. 1, 2085
- Planned redemption of Series 11 at $25.00 per share on Nov. 28, 2025
- Expected final dividend of $0.2094375 per Series 11 share
- Series 11 Shares will be delisted from the Toronto Stock Exchange
- Redemption Price excludes accrued and unpaid dividends
- Notes are junior subordinated, lower priority in capital structure
Insights
TC Energy issued
The issuance replaces a slice of perpetual preferred equity with long‑dated subordinated debt issued by TransCanada PipeLines Limited. The Notes carry a fixed coupon of
The main dependencies are the company’s ability to service the new fixed coupon and any covenants tied to the offering, and board approval for the final dividend. Key risks include higher fixed interest expense relative to the prior preferred dividend profile and potential effects on reported leverage metrics. Watch near‑term items: confirmation of the final dividend declaration, the actual use of net proceeds against indebtedness, and any disclosure about covenant terms or credit‑rating commentary around
CALGARY, Alberta, Oct. 09, 2025 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that TransCanada PipeLines Limited (TCPL) has closed an offering of US
As previously announced, the Company intends to use the net proceeds to redeem (Redemption) its issued and outstanding Cumulative Redeemable First Preferred Shares, Series 11 (Series 11 Shares) (TSX:TRP.PR.G) on Nov. 28, 2025 (Redemption Date) at a price equal to
Subject to board approval, the Company expects to declare a final quarterly dividend of
Non-registered holders of Series 11 Shares should contact their broker or other intermediary for information regarding the redemption process for the Series 11 Shares in which they hold a beneficial interest.
The Notes were issued by way of a prospectus supplement dated Oct. 6, 2025 to TCPL’s short form base shelf prospectus dated Dec. 5, 2024 (collectively, the Prospectus) included in its registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes. The Notes have not been approved or disapproved by any regulatory authority in Canada or the United States, nor has any authority passed upon the accuracy or adequacy of the Prospectus. The Notes were not offered in Canada or to any resident of Canada.
About TC Energy
We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. Every day, our dedicated team proudly connects the world to the energy it needs, moving over 30 per cent of the cleaner-burning natural gas used across the continent. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure fuels industries and generates affordable, reliable and sustainable power across North America, while enabling LNG exports to global markets.
Our business is based on the connections we make. By partnering with communities, businesses and leaders across our extensive energy network, we unlock opportunity today and for generations to come.
TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATION
This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management's assessment of TC Energy's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TC Energy's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.
Media Inquiries:
Media Relations
media@tcenergy.com
403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:
Gavin Wylie / Hunter Mau
investor_relations@tcenergy.com
403-920-7911 or 800-361-6522
PDF available: http://ml.globenewswire.com/Resource/Download/e329fec7-cf80-411d-b9dd-5126c366ab54
FAQ
What did TRP announce on Oct. 9, 2025 regarding debt issuance?
How will TRP use the proceeds from the US$350 million notes offering?
What is the redemption date and price for TRP Series 11 shares (TRP.PR.G)?
Will Series 11 shareholders receive a final dividend before redemption?
What happens to Series 11 shares after the Nov. 28, 2025 redemption?
Were the notes registered with the U.S. SEC and offered in Canada?
