TransCanada Targets Hybrid Debt Sale of at Least C$500 Million

TransCanada Pipelines, a unit of TC Energy Corp, is looking to sell hybrid debt of at least C$500 million ($363 million) maturing in about 30 years as soon as Monday, according to people familiar with the matter.

Coupon for the note is most recently discussed at around 5.25%, according to the people. The initial reset date is February 15, 2031, and final maturity is in 30.5 years, they said.

TransCanada Pipelines has hired CIBC Capital Markets, BMO Capital Markets and TD Securities for the deal, Bloomberg reported earlier.

The unit last sold Canadian-dollar debt in February in a ...