TransCanada flies in face of debt wisdom

Article Abstract:

TransCanada PipeLines, a Calgary, Alberta-based utility company, has entered into four major deals in a period of five weeks as part of its strategy to have accessible funds for several purposes. TransCanada Chief Financial Officer Stephen Letwin wants to make sure the utility company has sufficient capital to fund business opportunities, such as acquisitions, when the need arises. The active borrowing by TransCanada also enabled it to repay C$700 million in short-term debt linked to its acquisition of Nova's operations with long-term funding. The four major deals were a C$125 million medium-term notes; a C$400 million of medium-term notes for US investors; a $460 million of preferred shares; and a C$200 million of perpetual preferred shares for Canadian investors.

Comment:

Enters into four major deals in a period of five weeks as part of its strategy to have accessible funds for several purposes

Financial management, Gas Transmission, Alberta, Natural gas transmission, Transcanada Pipelines Ltd.

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Market slump delays BC Gas equity offering

Article Abstract:

BC Gas Inc. of Vancouver, British Columbia, postponed a C$250-million equity offering because of unfavorable stock market conditions. Company executives have been pitching for BCG Power Generation Limited Partnership, which represents ownership in a wood-fired power plant in Williams Lake, British Columbia. Units in the income trust were to be offered at C$10 apiece and sold as instalment receipts. The company wanted to close the financing in early September 1998, if not for the postponement. If market conditions become better over the next six months, the utility might push through with the offering, said Don Fairbairn, vice-president of business development at BC Gas.

Comment:

Postpones a C$250-million equity offering because of unfavorable stock market conditions

Gas Utilities, British Columbia, BC Gas Inc.

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Aeroplan underwriters seek larger IPO

Article Abstract:

The reasons behind the demand of underwriters to increase Aeroplan Income Fund units of ACE Aviation Holdings Inc. are examined.

Canada, Aircraft, Securities, Aircraft industry, Company securities

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