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May 25 2020

TC Energy completes partial monetization and project financing transactions for Coastal GasLink

Posted by Coastal GasLink

CALGARY, Alberta, May 25, 2020 (GLOBE NEWSWIRE) -- News Release — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) announced today that it has completed the sale of a 65 per cent equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink or the Project). In addition, the Coastal GasLink Pipeline Limited Partnership has executed a credit agreement with a syndicate of banks extending non-recourse project-level financing to fund the majority of the construction costs for the Project which, with the closing of the equity sale, are available to be drawn.  Together, these transactions have resulted in the Company realizing immediate proceeds of approximately $2.1 billion.

Read the full news release or download a PDF: TC Energy completes partial monetization and project financing transactions for Coastal GasLink