{"id":42040,"date":"2021-03-06T14:15:05","date_gmt":"2021-03-06T19:15:05","guid":{"rendered":"http:\/\/prefblog.com\/?p=42040"},"modified":"2021-03-06T14:15:05","modified_gmt":"2021-03-06T19:15:05","slug":"trp-pr-j-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42040","title":{"rendered":"TRP.PR.J To Be Redeemed"},"content":{"rendered":"<p>TC Energy Corporation <a href=\"https:\/\/www.tcenergy.com\/announcements\/2021-03-04-tc-energy-announces-closing-of-$500-million-subordinated-notes-offering-by-transcanada-trust\/\">has announced<\/a>:<\/p>\n<blockquote><p>that TransCanada Trust (the Trust), a wholly-owned financing trust subsidiary of TransCanada PipeLines Limited (TCPL), has closed an offering of $500 million of 4.20% subordinated Trust Notes, Series 2021-A due March 4, 2081 (Trust Notes), guaranteed on a subordinated basis by TCPL. The Trust Notes were offered through a syndicate of underwriters, co-led by BMO Capital Markets and Scotiabank, under the Trust&#8217;s short form base shelf prospectus dated February 26, 2021, as supplemented by a prospectus supplement dated March 1, 2021.<\/p>\n<p>The Company intends to use the proceeds to redeem its issued and outstanding Cumulative Redeemable Minimum Rate Reset First Preferred Shares, Series 13 (TSX:TRP.PR.J) pursuant to their terms, and pending such redemption, to reduce short-term indebtedness as well as for general corporate purposes.<\/p><\/blockquote>\n<p>Well, 60-year subordinated debt at 4.20% interest sure beats the 5.50% dividend minimum payable on TRP.PR.J!<\/p>\n<p>TRP.PR.J is a FixedReset, 5.50%+469M550, that <a href=\"http:\/\/prefblog.com\/?p=32958\">commenced trading 2016-4-20<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=32915\">announced 2016-4-13<\/a>.<\/p>\n<p>Thanks to Assiduous Reader <i>CanSiamCyp<\/i> for <a href=\"http:\/\/prefblog.com\/?p=42021#comment-196002\">ensuring I didn&#8217;t miss this<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TC Energy Corporation has announced: that TransCanada Trust (the Trust), a wholly-owned financing trust subsidiary of TransCanada PipeLines Limited (TCPL), has closed an offering of $500 million of 4.20% subordinated Trust Notes, Series 2021-A due &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-42040","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42040"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42040\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}