DBRS Assigns TransCanada PipeLines Limited’s New Issue A (low) Rating, Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to TransCanada PipeLines Limited’s (TCPL) issuance of USD 1.25 billion 4.625% senior unsecured medium-term notes maturing on March 1, 2034 (the Notes). The Notes are expected to settle on February 28, 2014.

The Notes will rank equally, except as to sinking funds, with all of TCPL’s existing and future senior unsecured debt. Net proceeds from the offering will be used to repay short-term indebtedness and for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Pipeline and Diversified Energy Companies (January 2014), which can be found on our website under Methodologies.