On December 6, 2024, TransCanada PipeLines Limited (TCPL) announced a Medium-Term Note (MTN) debenture program, allowing for the issuance of unsecured notes with maturities of at least one year. The program, valid for 25 months, will offer notes exclusively in Canada through ATB Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and TD Securities Inc.

Proceeds from the program will be used to reduce indebtedness and support TCPL's long-term investments. The notes are rated BBB (high) by DBRS, BBB+ by S&P and Fitch, and Baa2 by Moody’s. Legal advisors include Blake, Cassels & Graydon LLP for TCPL and Norton Rose Fulbright Canada LLP for the dealers. This marks a strategic move by TCPL to strengthen its financial position.