TransCanada PipeLines Issues US$1B of 6.200% Senior Notes

On September 12, 2007, TransCanada PipeLines Limited filed a final short form base shelf prospectus with the Alberta Securities Commission and with the Securities and Exchange Commission in the United States under the Multijurisdictional Disclosure System pursuant to which it may issue, from time to time, up to US$2.5 billion in debt securities.

On October 5, 2007, TransCanada PipeLines closed a public offering of 6.200 per cent Senior Notes due 2037, in an aggregate amount of US$1 billion. The offering was made pursuant to a prospectus supplement dated October 2, 2007 to TransCanada PipeLines' September 12, 2007 short form base shelf prospectus. The offering was underwritten by a syndicate led by J.P. Morgan Securities Inc. and HSBC Securities (USA) Inc. that included Citigroup Global Markets Inc., Deutsche Bank Securities 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, Bruce Nysetvold, senior legal counsel; and by David Lefebvre, David Taniguchi, Charles Kraus, Kristi Kasper and Charlotte Feasby (securities) and David Weekes (tax) of Stikeman Elliott LLP, as Canadian counsel; and by Michael Hermsen, Sterling Dorish and Maria Khersonskaya (securities) and James Barry and Aimee Meacham (tax) of Mayer Brown LLP as US counsel. Christopher Cummings, Stephen Centa, Jeremy Grushcow and Adam Lewinberg (securities) and Laurence Crouch (tax) of Shearman & Sterling LLP acted as counsel for the underwriters.

Lawyer(s)

Bruce Nysetvold Charles R. (Chuck) Kraus Charlotte Feasby David G. Weekes David Taniguchi Kristi M. Kasper David R.J. Lefebvre

Firm(s)

Stikeman Elliott LLP Mayer Brown LLP Shearman & Sterling LLP