TC PipeLines, LP Completes Acquisition of Additional Interests in GTN and Bison

TC PipeLines, LP Completes Acquisition of Additional Interests in GTN and Bison 
HOUSTON, TEXAS -- (Marketwired) -- 07/02/13 -- TC PipeLines, LP
(NYSE:TCP) (the Partnership) today announced the closing of its
acquisition of an additional 45 percent interest in each of Gas
Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) from
subsidiaries of TransCanada Corporation (TSX:TRP) (NYSE:TRP). The
acquisition is expected to be immediately accretive to Partnership
cash flows and earnings. 
The Partnership funded the $1.05 billion acquisition with net
proceeds of approximately $381 million from its equity offering in
May, a new five year $500 million term loan from the Partnership's
syndicate of lenders, $146 million of existing debt at GTN and the
balance of $23 million drawn from its credit facility.  
TC PipeLines, LP is a Delaware master limited partnership with
interests in 5,560 miles of federally regulated U.S. interstate
natural gas pipelines which serve markets across the United States
and Eastern Canada. This includes significant interests in Great
Lakes Gas Transmission Limited Partnership, Northern Border Pipeline
Company, Gas Transmission Northwest LLC and Bison Pipeline LLC. The
Partnership also wholly owns North Baja Pipeline, LLC and Tuscarora
Gas Transmission Company. The Partnership is managed by its general
partner, TC PipeLines GP, Inc., an indirect wholly-owned subsidiary
of TransCanada Corporation (NYSE:TRP). TC PipeLines GP, Inc. and
another TransCanada subsidiary also hold common units of TC
PipeLines, LP. For more information about TC PipeLines, LP, visit the
Partnership's website at www.tcpipelineslp.com. 
Forward-Looking Statements 
This release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act  of 1934, as amended.
Forward-looking statements can be identified by words such as
"expects," "intends," "anticipates," "plans," "seeks," "believes,"
"estimates" and other words or expressions of similar reference to
future periods. Forward-looking statements are based on our current
expectations and assumptions regarding our business, the economy and
other future conditions. As such, they are subject to inherent
uncertainties, risks and changes in circumstances that are difficult
to predict. Our actual results may differ materially from those
contemplated by the forward-looking statements. We caution you
against relying on any of these forward-looking statements. They are
neither statements of historical fact nor guarantees or assurances of
future performance. Important factors that could cause actual results
to differ materially from those in the forward looking statements
include but are not limited to: our ability to identify and complete
expansion projects and other accretive growth opportunities; failure
to receive the necessary regulatory approval; failure of the
acquisition to be immediately accretive to cash per common unit
generated from operations; timing of the completion of the
acquisition; changes to management's plans and objectives; demand for
natural gas; availability and location of natural gas supplies in the
United States and Canada; natural gas prices and regional
differences; increases in operational or compliance costs resulting
from changes in environmental and other regulations affecting our
pipeline systems; weather conditions; the outcome of rate
proceedings; and changes in taxation of master limited partnerships.
Any forward-looking statement made in this release speaks only as of
the date on which it is made. Factors or events that could cause our
actual results to differ may occur from time-to-time and it is not
possible to predict all of them. We undertake no obligation to
publicly update any forward-looking statement, whether as a result of
new information, future developments or otherwise, except as required
by law.
Contacts:
TC PipeLines, LP
Media Inquiries:
Shawn Howard/Grady Semmens
403.920.7859 
TC PipeLines, LP
Unitholder and Analyst Inquiries:
Rhonda Amundson
877.290.2772
investor_relations@tcpipelineslp.com
www.tcpipelineslp.com
 
 
Press spacebar to pause and continue. Press esc to stop.