Paul, Weiss Advises Underwriters in TC Energy’s $1.4 Billion Equity Offering

Paul, Weiss advised the underwriters, led by RBC Capital Markets, in a public offering of common shares by Calgary-based TC Energy Corporation pursuant to which TC Energy sold 28.4 million common shares for $49.70 (C$63.50) per share, representing gross proceeds of approximately $1.4 billion (C$1.8 billion). TC Energy intends to the use the proceeds of the offering, together with other financing sources and cash on hand, to fund costs associated with the construction of the Southeast Gateway Pipeline, a $4.5 billion, 1.3 billion cubic feet-per-day, 715-kilometer offshore natural gas pipeline in the southeast region of Mexico.

The Paul, Weiss team included corporate partner Christopher Cummings and counsel Steve Centa; tax partner David Mayo; and environmental counsel William O'Brien.