BRIEF-TC Energy Says Coastal Gaslink Completes Largest Corporate Bond Offering In Canadian History

BY Reuters | CORPORATE | 06/13/24 06:46 PM EDT

June 13 (Reuters) - TC Energy Corp (TRP):

* SAYS COASTAL GASLINK SUCCESSFULLY COMPLETED $7.15 BILLION REFINANCING OF ITS EXISTING CONSTRUCTION CREDIT FACILITY THROUGH A CANADIAN PRIVATE BOND OFFERING OF FIRST LIEN SENIOR SECURED NOTES

* SAYS OFFERING WAS OVERSUBSCRIBED BY APPROXIMATELY 3.6 TIMES, REPRESENTING UNPRECEDENTED DEMAND FOR ENERGY INFRASTRUCTURE THAT IS PART OF CANADA'S LARGEST PRIVATE SECTOR INVESTMENT

* SAYS "TOGETHER WITH LNG CANADA, COASTAL GASLINK WILL UNLOCK DECADES OF BENEFITS FOR INDIGENOUS COMMUNITIES, ALL CANADIANS, AND OUR ALLIES ABROAD"

* SAYS CONSTRUCTION OF THE COASTAL GASLINK PIPELINE SYSTEM WAS SAFELY COMPLETED LAST YEAR WITH THE SUPPORT OF ALL 20 OUT OF 20 ELECTED INDIGENOUS GROUPS

* COASTAL GASLINK IS A LIMITED PARTNERSHIP OWNED BY AFFILIATES OF TC ENERGY, KKR AND ALBERTA INVESTMENT MANAGEMENT CORPORATION (ON BEHALF OF CERTAIN OF ITS CLIENTS)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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