NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" BELOW). CALGARY, Alberta, Oct. 09, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) ("TC Energy") today announced (i) the expiration of the previously announced separate offers (the "Offers") of TransCanada PipeLines Limited (the "Company"), a wholly-owned subsidiary of TC Energy, to purchase for cash up to C$350,000,000 in aggregate purchase price, excluding accrue ...

CALGARY, Alberta, Oct. 09, 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 (i) the results of its previously announced seven separate offers (the "Offers") to purchase for cash the outstanding notes of the series listed in the table below (collectively, the "Notes") and (ii) that it has amended the Offers by increasing the Maximum Purchase Amou ...

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 ...

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 ...

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 ...

Company solidifies its position as an industry-leading natural gas infrastructure and power and energy solutions company Third quarter 2024 results to be issued on Nov. 7, 2024 Will demonstrate strategic vision and outlook at Investor Day on Nov. 19, 2024 CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it has completed the spinoff of its Liquids Pipelines business into South Bow Corporation (South Bow). ...

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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]