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BRIEF-TC Energy To Build Keystone Xl Pipeline

Published 2020-03-31, 07:17 a/m
© Reuters.
TRP
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March 31 (Reuters) - TC Energy Corp TRP.TO :

* TC ENERGY TO BUILD KEYSTONE XL PIPELINE

* WILL PROCEED WITH CONSTRUCTION OF KEYSTONE XL PIPELINE PROJECT

* PIPELINE IS EXPECTED TO ENTER SERVICE IN 2023

* GOVERNMENT OF ALBERTA HAS AGREED TO INVEST APPROXIMATELY US$1.1 BILLION AS EQUITY IN PROJECT

* TC ENERGY- REMAINING CAPITAL INVESTMENT OF ABOOUT $6.9 BILLION EXPECTED TO BE MADE IN 2021, 2022

* TC ENERGY- REMAINING CAPITAL INVESTMENT FUNDED THROUGH $4.2 BILLION CREDIT FACILITY GUARANTEED BY GOVERNMENT OF ALBERTA , $2.7 BILLION INVESTMENT BY CO

* TC ENERGY- INTENDS TO FILE $1.0 BILLION EQUITY SHELF TO ENABLE AN AT MARKET EQUITY ISSUANCE PROGRAM UTILIZED IF AND AS DEEMED APPROPRIATE

* TC ENERGY- ONCE PROJECT COMPLETE, CO TO ACQUIRE GOVERNMENT OF ALBERTA'S EQUITY INVESTMENT, REFINANCE $4.2 BILLION CREDIT FACILITY IN DEBT CAPITAL MARKETS

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