TransCanada Increases Preferred Share Issue

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TransCanada Corporation (TRP.TO) announced that as a result of strong investor demand for its previously announced offering of cumulative redeemable first preferred shares, series 7, the size of the offering has been increased to 24 million shares.

The aggregate gross proceeds of the offering will now be $600 million.

The net proceeds of the offering will be used for general corporate purposes and to reduce short term indebtedness of TransCanada and its affiliates.


TRP shares were trading 35 cents higher at $47.89.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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