TransCanada Corp. (TSX:TRP) to sell stake in pipelines to TC PipeLines LP Dominion Lending Centres Clearlease
VANCOUVER, BRITISH COLUMBIA – (April 27, 2011) Clearlease.com Reports TransCanada Corp. (TSX:TRP) says it has struck deals to sell a stake in two of its natural gas pipelines to an affiliated company for US$605 million.
The Calgary natural gas shipper announced late Tuesday it has entered into agreements to sell a 25 per cent interest in each of Gas Transmission Northwest LLC and Bison Pipeline LLC.
The buyer is TC PipeLines LP (NASDAQ:TCLP), a company partly owned by TransCanada.
The money raised will be used by TransCanada for its capital spending program as it grows its oil and gas pipeline systems.
The transaction, which is slated to close in May, includes US$81 million or 25 per cent of Gas Transmission Northwest’s, or GTN’s, debt.
“The proceeds from the sale of a 25 per cent interest in both GTN and Bison will be used to help fund TransCanada’s capital program,” said Russ Girling, president and chief executive of the company.
“Once the transaction is complete, TransCanada will hold a 75 per cent ownership interest in both pipelines and will continue to manage and operate these high quality assets as part of its integrated North American natural gas transmission network.
Girling said the deal “demonstrates one of the many options available to fund our current growth portfolio without additional common equity.”
“We will continue to look at alternatives to further enhance our financial flexibility including subordinated securities, examining opportunities for portfolio management and an ongoing role for the partnership.”
The GTN pipeline system is a 2,178 kilometre pipeline that transports gas produced in Western Canada and the U.S. Rocky Mountain states to other pipelines and markets in the U.S. states of Washington, Oregon and California.
It also connects with TC PipeLines’ Tuscarora pipeline system, which ships gas to customers in northwestern Nevada and northeastern California.
Bison is a new 484 km gas pipeline connecting Rocky Mountain gas to markets through the Northern Border pipeline system, a U.S. pipeline already half owned by TC PipeLines and which brings Canadian gas to the U.S. Midwest.
TransCanada currently holds a 38.2 per cent interest in TC PipeLines LP, a partnership formed to acquire, own and manage U.S. natural gas pipelines and related assets.
TransCanada is a major pipeline company with more than 60,000 kilometres of lines across North America. The company is also one of the continent’s largest providers of gas storage and related services and a growing producer of electricity, with more than 10,800 megawatts of power generation in Canada and the United States.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://www.youtube.com/watch?v=tfX_T9BpIug
VANCOUVER, BRITISH COLUMBIA – (April 27, 2011) Clearlease.com Reports TransCanada Corp. (TSX:TRP) says it has struck deals to sell a stake in two of its natural gas pipelines to an affiliated company for US$605 million.
The Calgary natural gas shipper announced late Tuesday it has entered into agreements to sell a 25 per cent interest in each of Gas Transmission Northwest LLC and Bison Pipeline LLC.
The buyer is TC PipeLines LP (NASDAQ:TCLP), a company partly owned by TransCanada.
The money raised will be used by TransCanada for its capital spending program as it grows its oil and gas pipeline systems.
The transaction, which is slated to close in May, includes US$81 million or 25 per cent of Gas Transmission Northwest’s, or GTN’s, debt.
“The proceeds from the sale of a 25 per cent interest in both GTN and Bison will be used to help fund TransCanada’s capital program,” said Russ Girling, president and chief executive of the company.
“Once the transaction is complete, TransCanada will hold a 75 per cent ownership interest in both pipelines and will continue to manage and operate these high quality assets as part of its integrated North American natural gas transmission network.
Girling said the deal “demonstrates one of the many options available to fund our current growth portfolio without additional common equity.”
“We will continue to look at alternatives to further enhance our financial flexibility including subordinated securities, examining opportunities for portfolio management and an ongoing role for the partnership.”
The GTN pipeline system is a 2,178 kilometre pipeline that transports gas produced in Western Canada and the U.S. Rocky Mountain states to other pipelines and markets in the U.S. states of Washington, Oregon and California.
It also connects with TC PipeLines’ Tuscarora pipeline system, which ships gas to customers in northwestern Nevada and northeastern California.
Bison is a new 484 km gas pipeline connecting Rocky Mountain gas to markets through the Northern Border pipeline system, a U.S. pipeline already half owned by TC PipeLines and which brings Canadian gas to the U.S. Midwest.
TransCanada currently holds a 38.2 per cent interest in TC PipeLines LP, a partnership formed to acquire, own and manage U.S. natural gas pipelines and related assets.
TransCanada is a major pipeline company with more than 60,000 kilometres of lines across North America. The company is also one of the continent’s largest providers of gas storage and related services and a growing producer of electricity, with more than 10,800 megawatts of power generation in Canada and the United States.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://www.youtube.com/watch?v=tfX_T9BpIug
TransCanada Corp. (TSX:TRP) to sell stake in pipelines to TC PipeLines LP Dominion Lending Centres Clearlease
VANCOUVER, BRITISH COLUMBIA – (April 27, 2011) Clearlease.com Reports TransCanada Corp. (TSX:TRP) says it has struck deals to sell a stake in two of its natural gas pipelines to an affiliated company for US$605 million.
The Calgary natural gas shipper announced late Tuesday it has entered into agreements to sell a 25 per cent interest in each of Gas Transmission Northwest LLC and Bison Pipeline LLC.
The buyer is TC PipeLines LP (NASDAQ:TCLP), a company partly owned by TransCanada.
The money raised will be used by TransCanada for its capital spending program as it grows its oil and gas pipeline systems.
The transaction, which is slated to close in May, includes US$81 million or 25 per cent of Gas Transmission Northwest’s, or GTN’s, debt.
“The proceeds from the sale of a 25 per cent interest in both GTN and Bison will be used to help fund TransCanada’s capital program,” said Russ Girling, president and chief executive of the company.
“Once the transaction is complete, TransCanada will hold a 75 per cent ownership interest in both pipelines and will continue to manage and operate these high quality assets as part of its integrated North American natural gas transmission network.
Girling said the deal “demonstrates one of the many options available to fund our current growth portfolio without additional common equity.”
“We will continue to look at alternatives to further enhance our financial flexibility including subordinated securities, examining opportunities for portfolio management and an ongoing role for the partnership.”
The GTN pipeline system is a 2,178 kilometre pipeline that transports gas produced in Western Canada and the U.S. Rocky Mountain states to other pipelines and markets in the U.S. states of Washington, Oregon and California.
It also connects with TC PipeLines’ Tuscarora pipeline system, which ships gas to customers in northwestern Nevada and northeastern California.
Bison is a new 484 km gas pipeline connecting Rocky Mountain gas to markets through the Northern Border pipeline system, a U.S. pipeline already half owned by TC PipeLines and which brings Canadian gas to the U.S. Midwest.
TransCanada currently holds a 38.2 per cent interest in TC PipeLines LP, a partnership formed to acquire, own and manage U.S. natural gas pipelines and related assets.
TransCanada is a major pipeline company with more than 60,000 kilometres of lines across North America. The company is also one of the continent’s largest providers of gas storage and related services and a growing producer of electricity, with more than 10,800 megawatts of power generation in Canada and the United States.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://www.youtube.com/watch?v=tfX_T9BpIug