Core Points - TC Energy Corporation announced the closing of a US$350 million offering of 6.250% Fixed-for-Life Junior Subordinated Notes due Nov. 1, 2085 [1] - The net proceeds from the offering will be used to redeem its Cumulative Redeemable First Preferred Shares, Series 11, on Nov. 28, 2025, at a price of $25.00 per share [2] - A final quarterly dividend of $0.2094375 per Series 11 Share is expected to be declared, payable on the same date as the redemption [3] Financial Details - The Notes were issued through a syndicate of underwriters, co-led by Morgan Stanley, BofA Securities, J.P. Morgan, RBC Capital Markets, and Wells Fargo [1] - The redemption of Series 11 Shares aims to reduce indebtedness and support general corporate purposes [2] - The Series 11 Shares will cease to be entitled to dividends after the redemption date and will be delisted from the Toronto Stock Exchange [3] Company Overview - TC Energy is a leader in North American energy infrastructure, moving over 30% of the continent's cleaner-burning natural gas [6] - The company focuses on strategic ownership and low-risk investments in power generation, contributing to affordable and sustainable energy [6] - TC Energy's common shares are traded on the Toronto and New York stock exchanges under the symbol TRP [7]

Energy Market Overview - Global energy demand is expected to grow steadily, driven by population growth, urbanization, and economic development, with developing economies like India (32%), China (26%), Africa (15%), and Southeast Asia (15%) leading the increase from 2017 to 2040[9] - The U S is the largest oil and gas producer globally, with production expected to grow by approximately 33% by 2025, positioning it as a key trade partner[11, 15] - By 2025, the U S is projected to supply over 50% of the expected global supply increase and produce nearly 1 out of every 5 barrels of oil and 1 out of every 4 cubic meters of natural gas worldwide[15] Kinder Morgan's Business and Financial Highlights - Kinder Morgan is a leader in energy infrastructure, operating approximately 70,000 miles of natural gas pipelines and transporting about 40% of the natural gas consumed in the U S [20, 49] - The company anticipates approximately $5 billion in distributable cash flow (DCF) for 2019, allocating around $2 billion for dividends and $3 billion for enhancing shareholder value[21] - Kinder Morgan has a market capitalization exceeding $40 billion and boasts investment-grade rated debt, with recent upgrades to BBB / Baa2 by S&P and Moody's[24] - The company offers a current dividend yield of 5% based on a $20 share price, with a planned 25% dividend growth in both 2019 ($1 00/share) and 2020 ($1 25/share)[24, 30] - Kinder Morgan has repurchased approximately $525 million of its shares since December 2017 as part of a $2 billion share buyback program[24] Growth and Capital Projects - The company has $6 1 billion of commercially secured capital projects underway, primarily focused on natural gas opportunities[36] - U S natural gas production is projected to grow by over 30 Bcfd, nearly 40%, by 2030, with over 70% of the forecasted demand growth concentrated in Texas and Louisiana[33, 34] - Kinder Morgan is investing in Permian takeaway projects, including GCX and PHP, with a combined capacity of 4 1 Bcfd, and is in discussions for a potential third pipeline[40, 42] - The company's network is contracted for over 5 7 Bcfd of transport capacity to U S liquefaction facilities under 19-year average term contracts, with approximately $1 billion invested in transportation infrastructure to support LNG exports[49] Financial Performance and Stability - Approximately 90% of Kinder Morgan's earnings are underpinned by take-or-pay or fee-based contracts, ensuring stable cash flows[65] - The company projects approximately $8 billion in adjusted EBITDA for 2019[66] - Kinder Morgan has a long-term target net debt / adjusted EBITDA ratio of approximately 4 5x, which was reached as of March 31, 2019[30]

Core Points - Ameren Missouri is advancing its generation investment plan by filing an application for the construction of an 800-megawatt natural gas energy center and a large-scale battery storage facility in Jefferson County, Missouri [1][3] - The Big Hollow Energy Center aims to enhance energy reliability and meet increased energy demands while ensuring grid resiliency [1][2] - The project is expected to create significant investment and job opportunities in the community, with the energy center projected to be operational by 2028 [3][4] Investment and Infrastructure - The Big Hollow Energy Center will feature a 400-megawatt lithium-ion battery installation, which can provide backup power during peak energy needs and improve overall grid reliability [4][5] - Ameren Missouri plans to accelerate its battery storage capacity to a total of 1,000 megawatts by 2030 and 1,800 megawatts by 2042 [4] - The natural gas and battery storage facilities will operate independently but will utilize existing infrastructure, reducing construction time and costs [5][6] Community Impact - The project is expected to support local economic development, including contributions to the Jefferson R-VII School District and local first responders [7] - Community leaders express strong support for the Big Hollow Energy Center, viewing it as a commitment to the future of Jefferson County [7][8] - The closure of the Rush Island Energy Center in October 2024 has been addressed by Ameren Missouri, ensuring continued partnership with the community [8]

Company Overview - Archrock is the largest outsourced compression provider in the U S [10] - The company has a market capitalization of $2 25 billion and an enterprise value of $4 1 billion [10] - Archrock's dividend is $0 165 per quarter, resulting in a yield of 4% [10] - 85% of Archrock's fleet is focused on large horsepower units, primarily serving midstream gathering systems [12] Financial Performance and Outlook - Archrock anticipates an adjusted EBITDA between $500 million and $530 million for 2024 [14] - The company's dividend coverage is strong at 2 8x [12] - Archrock is targeting a leverage ratio of 3 0-3 5x in 2024 [12] Market and Strategy - Approximately 2/3 of Archrock's operating horsepower is concentrated in the Permian and Eagle Ford basins [24] - The company's utilization rate reached 96% exceeding prior cycle peak [27] - Archrock is increasing return of capital to shareholders YoY and long-term, with dividend growth complimented by strong expected dividend coverage of well above 2 0x [42]