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CALGARY - TC Energy Corporation (TSX, NYSE:TRP), currently trading near its 52-week high with a market capitalization of $57.3 billion and maintaining a "GOOD" financial health score according to InvestingPro, announced Monday that its subsidiary TransCanada PipeLines Limited (TCPL) is considering an offering of U.S. Junior Subordinated Notes.
If completed, the company plans to use the net proceeds to redeem its outstanding Cumulative Redeemable First Preferred Shares, Series 11 (TSX:TRP.PR.G), reduce debt and for general corporate purposes.
TC Energy emphasized there is no certainty the offering will be completed or details on timing and terms. If commenced, the notes would be issued through a prospectus supplement to TCPL’s short form base shelf prospectus dated December 5, 2024, included in its registration statement filed with the U.S. Securities and Exchange Commission.
The notes have not been approved by regulatory authorities in Canada or the United States and will not be offered in Canada or to Canadian residents, according to the company’s press release statement.
TC Energy describes itself as a North American energy infrastructure company with operations across Canada, the U.S. and Mexico, transporting over 30 percent of the natural gas used across the continent.
The company’s common shares trade on both the Toronto and New York stock exchanges under the symbol TRP.
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