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TRANSCANADA PIPELINES TO ISSUE EQUITY PREFERRED SHARES

 TRANSCANADA PIPELINES TO ISSUE EQUITY PREFERRED SHARES
 CALGARY, March 31 /PRNewswire/ -- TransCanada PipeLines


(Toronto, Montreal, Vancouver, Calgary: TRP) announced today that it has filed a preliminary prospectus for the offering of Cumulative Equity Second Preferred Shares Series B, known as Equity Preferred Shares. Offered for the first time in Canada, this issue will provide an enhanced dividend yield relative to the company's common shares, coupled with the opportunity for capital appreciation.
 The Equity Preferred Shares will convert automatically into common shares on Aug. 1, 1995, and may be converted prior to that time by the company, with similar rights for a tax-free conversion in each case by the holders of such shares.
 Details of the offering, including the number of shares to be issued, the issue price, the fixed cumulative dividend and the conversion amounts will be determined at the time of the filing of the final prospectus.
 The Equity Preferred Shares will be sold to the public through an underwriting syndicate led by Nesbitt Thomson Inc.
 -0- 3/31/92
 /CONTACT: Frank Dabbs of TransCanada PipeLines, 403-267-8525/
 (TRP.) CO: TransCanada PipeLines Limited ST: Alberta IN: OIL SU:


CH -- LA029 -- 3575 03/31/92 16:29 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 31, 1992
Words:197
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