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TransCanada fundraising secures cool $1B


Published Nov 18, 2008
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ExxonMobil and TransCanada Demonstrate Field Installation of World's Strongest Gas Transmission Linepipe-Spotlight

Canada-based banks will buy 30.5 million common shares from pipeline builder TransCanada and then sell them to the public for C$1 billion ($814 million), it was understood Tuesday.

RBC Capital Markets, BMO Capital Markets, and TD Securities Inc. agreed to sell the C$33 ($27) stock.

TransCanada has a number of capital projects in mind, including a pipeline expansion into the heart of the Gulf of Mexico’s refining and retail market. The Keystone Pipeline System is one such project.

TransCanada’s network of wholly owned pipelines extends 59,000 kilometres.

In a post U.S.-Europe bail-out package report, the World Economic Forum ranked the Canadian banking system the strongest in the world.

Tags: TransCanada Corporation



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