TC PipeLines to use new term debt for $335 million GTN pipeline system

Chicago, Feb. 6 – TC PipeLines, LP announced on Thursday that its Gas Transmission Northwest, LLC interstate pipeline will move forward with its GTN XPress project for $335 million, according to a press release.

Funding for the project will be accomplished using a combination of new term debt at GTN and equity contributions to GTN from TC PipeLines.

TC PipeLines said it has existing capacity to fund these contributions using a combination of existing cash together with borrowings under its revolving credit facility.

TC PipeLines owns and operates natural gas pipelines. The Houston-based partnership is managed by general partner TC PipeLines GP, Inc., a subsidiary of TransCanada Corp.

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