One-Page Deal Sheet
TC Pipelines Acquires Bison, GTN Interest in Billion-Dollar Deal
TC PipeLines, LP TC Energy Corp.
Announced Date
May 15,2013
Close Date
July 02,2013
Transaction Type
Asset
Location
Region
United States,Canada,Williston Basin
Country
Canada
Country
United States
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Closing Announcement - July 2, 2013
TC PipeLines LP has reported the closing of its acquisition of an additional 45 percent interest in each of Gas Transmission Northwest LLC and Bison Pipeline LLC from subsidiaries of TransCanada Corporation. The acquisition is expected to be immediately accretive to Partnership cash flows and earnings.
The Partnership funded the $1.05 billion acquisition with net proceeds of approximately $381 million from its equity offering in May, a new five year $500 million term loan from the Partnership's syndicate of lenders, $146 million of existing debt at GTN and…