TC PipeLines LP - 2011-04-28

Priced the public offering of 6.3 million common units at $47.58 per unit. Gross proceeds of approximately $300 million from this offering will be used to partially fund the previously announced acquisition of a 25% interest in both Gas Transmission Northwest LLC and Bison Pipeline LLC from TransCanada Corp. (Toronto: TRP; NYSE: TRP). The offering is expected to close on May 3. TC PipeLines has granted a syndicate of underwriters led by BofA Merrill Lynch, Morgan Stanley, UBS Investment Bank, J.P. Morgan and Wells Fargo Securities, all of which are joint book-running managers; and RBC Capital Markets and SunTrust Robinson Humphrey as co-managers, a 30-day option to purchase up to an additional 945,000 common units to cover over-allotments.