TransCanada Corp. - 2016-04-13
Issued 12 million Series 13 cumulative redeemable preferred shares priced at C$25 each on a bought deal basis to a syndicate of underwriters in Canada co-led by TD Securities Inc., BMO Capital Markets and Scotiabank. The shares are redeemable by TransCanada and can convert into Series 14 preferred shares on May 31, 2021 and on the last business day of May in every fifth year thereafter. Underwriters can purchase an additional 2 million Series 13 shares prior to closing, which is scheduled for April 20. Net proceeds will support general corporate purposes and reduce debt.