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TRANSCANADA PIPELINES AGREES TO ISSUE 2 MILLION COMMON SHARES BY PRIVATE PLACEMENT

 CALGARY, Alberta, Dec. 23 /PRNewswire/ -- TransCanada PipeLines Ltd. (NYSE: TRP; Toronto, Montreal, Vancouver, Calgary: TRP) announced today that it has signed an underwriting agreement for the issue of 2 million common shares by the way of private placement through RBC Dominion Securities Inc.
 The shares are being issued at $17 5/8 per share.
 The transaction, which is subject to receipt of necessary regulatory approvals, is scheduled to be completed on Dec. 30, 1992. The proceeds of approximately $35 million will be used for the company's general corporate purposes including the financing of its utility construction programs.
 -0- 12/23/92
 /CONTACT: Frank Dabbs of TransCanada PipeLines Ltd., 403-267-8525/
 (TRP)


CO: TransCanada PipeLines Ltd. ST: Alberta IN: OIL SU:

MS -- LA028 -- 9772 12/23/92 19:27 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:128
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