TransCanada to retire remaining bridge facilities via sale proceeds

By Tali Rackner

Minneapolis, June 5 – TransCanada Corp. plans to use the proceeds from the sale of its U.S. Northeast merchant power generation assets to fully retire the remaining acquisition bridge facilities that partially funded the acquisition of the Columbia Pipeline Group, according to a news release.

The company is selling the assets to Helix Generation, LLC, an affiliate of LS Power Equity Advisors, for about $2.1 billion, including a purchase price adjustment as a result of an unplanned outage at Ravenswood prior to close.

TransCanada is a natural gas and oil pipeline and storage company based in Calgary, Alta.

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