TransCanada Announces Approval of Amendments to TransCanada PipeLines Limited’s 1970 Indenture at Special Meeting of Holders

CALGARY, Alberta, Aug. 30, 2018 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX: TRP) (NYSE: TRP) (TransCanada) today announced the approval of proposed amendments to TransCanada PipeLines Limited’s (TCPL) 1970 Indenture by holders of the outstanding notes listed below issued pursuant to such indenture (the “1970 Notes”). 

The proxy solicitation is described in the Consent and Proxy Solicitation Statement dated August 1, 2018 which can be found at www.sedar.com. Adoption of the proposed amendments to the 1970 Indenture required the holders of at least 51 per cent of the aggregate outstanding principal amount of 1970 Notes represented in person or by proxy, and 75 per cent of such holders voting in favour of the proposed amendments (the “1970 Requisite Meeting Approval”). The 1970 Requisite Meeting Approval was exceeded at the meeting today with a quorum of 60.63 per cent and 99.49 per cent of holders present in person or by proxy voting in favour of the amendments. 

Pursuant to the terms of the Consent and Proxy Solicitation, an amendment payment of $0.50 for each $1,000 principal amount of 1970 Notes will be paid to holders of record as of July 26, 2018 (the “1970 Amendment Payment”). As outlined in the Consent and Proxy Solicitation Statement, the 1970 Amendment Payment will be paid conditional on and following the execution of the supplemental indenture to the 1993 Indenture which will implement the approved amendments. 

Notes Outstanding Under the 1970 Indenture

Series		ISIN
10.50% due March 20, 2019		CA893526BU65
		CA89352ZCM91
11.80% due November 20, 2020		CA893526CA92
		CA89352ZGL72
		CA89354ZAE75

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