TransCanada PipeLines Issues US$1.5 Billion of Senior Notes

On August 11, 2008, TransCanada PipeLines Limited closed a public offering of US$850 million 6.50 per cent senior notes due 2018 and US$650 million 7.25 per cent senior notes due 2038. The offering was made pursuant to a prospectus supplement dated August 6, 2008 to TransCanada PipeLines' September 12, 2007 short-form base shelf prospectus. The offering was underwritten by a syndicate led by Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. and included Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Lazard Capital Markets LLC, Mizuho Securities USA Inc., and SG Americas Securities, LLC.

TransCanada PipeLines was represented in-house by Robert Pitt, vice president, finance law and Bruce Nysetvold, senior legal counsel; by David Lefebvre, David Taniguchi, Charles Kraus, Kristi Kasper and Ben Hudy (securities) and David Weekes (tax) of Stikeman Elliott LLP, as Canadian counsel; and by Michael Hermsen, Jennifer Keating, Daniel Horwood and Nina Flax (securities) and James Barry and Lee Morlock (tax) of Mayer Brown LLP as US counsel.

Christopher Cummings, Stephen Centa, Shane Smyth and Mahsa Izadpanah (securities) and Laurence Crouch (tax) of Shearman & Sterling LLP acted as counsel for the underwriters.