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TRANSCANADA PIPELINES AGREES TO ISSUE PREFERRED SHARES

 TRANSCANADA PIPELINES AGREES TO ISSUE PREFERRED SHARES
 CALGARY, Alberta, Nov. 15 /PRNewswire/ -- TransCanada PipeLines


(AMEX, Toronto, Montreal, Vancouver, Calgary: TRP) announced today that it has signed an underwriting agreement for the issuance of 3 million Cumulative Redeemable First Preferred Shares, Series O, at an issue price of $50 per share. The shares will carry an annual dividend of 7.90 percent, payable quarterly. The company intends to file a preliminary prospectus today in respect of these shares, and the issue date is expected to be Dec. 17, 1991.
 The underwriters are Nesbitt Thomson Inc., ScotiaMcLeod Inc., Wood Gundy Inc., Burns Fry Limited, Gordon Capital Corporation, RBC Dominion Securities Inc., Midland Walwyn Capital Inc., Toronto Dominion Securities Inc. and Richardson Greenshields of Canada Limited.
 The estimated net proceeds of $147,550,000 will be used to finance a portion of the company's 1991 utility construction program
 -0- 11/15/91
 /CONTACT: Frank Dabbs of TransCanada PipeLines Limited, 403-267-8525/
 (TRP.) CO: TransCanada PipeLines Limited ST: Alberta IN: OIL SU: CH -- LA004 -- 1408 11/15/91 09:38 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 15, 1991
Words:176
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