CALGARY, Alberta, Oct. 08, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) ("TC Energy") today announced that TransCanada PipeLines Limited (the "Company"), a wholly-owned subsidiary of TC Energy, has released the pricing terms of its previously announced separate offers (the "Offers") to purchase for cash up to US$1,750,000,000 aggregate principal amount of its outstanding notes of the series listed in the table below (collectively, the "Notes"). _____________ The Offers are ...

CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 9 (Series 9 Shares) on Oct. 30, 2024. As a result, subject to certain conditions, the holders of Series 9 Shares have the right to choose one of the following options regarding their shares: 1. to retain any or all of their Series 9 Shares and contin ...

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" BELOW). CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) ("TC Energy") today announced that TransCanada PipeLines Limited (the "Company"), a whollyowned subsidiary of TC Energy, has commenced separate offers (the "Offers") to purchase for cash up to C$350,000,000 (the "Maximum Purchase Amount") in aggregate purchase price, excluding accrue ...

CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) ("TC Energy") today announced that TransCanada PipeLines Limited (the "Company"), a whollyowned subsidiary of TC Energy, has commenced separate offers (the "Offers") to purchase for cash any and all of the seven series of outstanding notes of the series listed in the table below (collectively, the "Notes"), up to a maximum of US$1,750,000,000 aggregate Total Consideration (as defined below). Subject to ...

Core Viewpoint - TC Energy Corporation has successfully completed the spinoff of its Liquids Pipelines business into South Bow Corporation, positioning itself as a focused natural gas infrastructure and power solutions company, committed to maximizing shareholder value and meeting growing energy demands [1][2][3] Company Developments - The spinoff allows TC Energy to execute a tailored strategy to capture incremental value and maintain a regulated, low-risk portfolio [2] - TC Energy's common shares will resume trading on the TSX and NYSE on October 2, 2024, while South Bow's shares will also begin trading on the same date [3] - The estimated proportionate allocation of adjusted cost base between TC Energy and South Bow shares will be posted on their respective websites in Q4 2024 [3] Upcoming Events - TC Energy will release its third quarter 2024 financial results on November 7, 2024, followed by a teleconference to discuss these results [3][4] - An Investor Day is scheduled for November 19, 2024, where the senior leadership team will outline the company's strategic priorities and growth objectives for 2025 [7] Company Overview - TC Energy employs over 7,000 energy professionals focused on delivering solutions to energy challenges, including natural gas supply for LNG markets and emission reduction initiatives [8] - The company is dedicated to creating sustainable returns for investors and value for communities [8]

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TC Energy Corporation (TRP) announced that it has recently encountered an obstacle that caused a delay in its deal to sell a minority stake in the NGTL System and the Foothills Pipeline assets to an indigenous-owned investment partnership in Canada. The deal, valued at C$1 billion, has been delayed owing to a transaction structuring issue. The deal, aimed at reducing TC Energy's debt, is a key part of the company's strategy to achieve its C$3 billion asset sale target for 2024. The deal, when completed, is ...

Core Viewpoint - TC Energy Corp is executing a tax-free spin-off of its Liquids Pipelines business into South Bow Corporation, allowing shareholders to retain their stake in TC Energy while gaining a proportional interest in South Bow [1][8][12] Spin-Off Details - The spin-off has received necessary tax rulings and approvals, set to take effect on October 1, 2024, with a record date of September 25, 2024 [2][9] - The spin-off ratio is 0.2:1, meaning shareholders will receive 0.2 shares of South Bow for each share of TC Energy [3][9] - Trading for TC Energy and South Bow shares will commence in 'due bill' markets and 'when-issued' trading on TSX from September 25, 2024, until October 1, 2024 [4][10] Company Focus Post Spin-Off - Post-separation, TC Energy will concentrate on Natural Gas Pipeline infrastructure and Power and Energy business, while South Bow will focus on Liquid Pipeline operations [1][13] - TC Energy's operations will include a 93,600 km natural gas pipeline network, addressing over 25% of North America's energy demands [19] Financial Overview - TC Energy's debt-to-EBITDA ratio is currently 5.1x, with a target to reduce it to 4.75x by 2024 through asset divestments and proceeds from the spin-off [19][27] - The anticipated proceeds from the spin-off are approximately C$8.0 billion, which will be used to repay debt [19] Growth Prospects - TC Energy's Natural Gas and Power business is expected to grow at a CAGR of 7.0%, with EBITDA projected to reach $11.2 billion by 2026 [20] - South Bow's liquid pipeline business is expected to grow at a slower rate of 2.0-3.0% CAGR, with EBITDA reaching $1.5 billion by 2026 [20][32] Valuation - TC Energy's fair value estimate is C$66.30 per share, with a target price of $48.75 per share, suggesting a 6.3% upside from the last closing price [7][33] - South Bow's fair value estimate is $10.90 per share, reflecting its high leverage and slower growth prospects [35]

Canada-based energy infrastructure provider TC Energy Corporation (TRP) is having a great run on the bourses lately. The stock closed Monday's session at $47.07 after setting a new 52-week high of $47.39 earlier on that day. As shown in this chart, with the advance, TRP shares are up more than 20% since the start of the year, handily outperforming the sector and the S&P 500. The company has also fared better than other midstream operators like Pembina Pipeline (PBA) and Kinder Morgan (KMI) . Image Source: Z ...

CALGARY, Alberta, Sept. 10, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) is providing an update on its previously announced equity interest purchase transaction with an Indigenous-owned investment partnership (the Purchaser), which was formed to acquire a minority equity interest in the NGTL System and the Foothills Pipeline assets. The previously announced equity interest purchase transaction with the Purchaser has been delayed due to an identifi ...