TransCanada to redeem all C$200 million of 5.6% series Y preferreds

By Tali Rackner

Minneapolis, Jan. 27 - TransCanada Corp. announced that TransCanada PipeLines Ltd. plans to redeem all C$200 million of its 5.6% series Y cumulative redeemable first preferred shares, according to a press release.

The 4 million shares will be redeemed at C$50 per share plus C$0.2455 of accrued dividends on March 5.

The shares carry an aggregate of C$11.2 million of annualized dividends.

TransCanada is a Calgary, Alta.-based company that develops and operates natural gas and oil pipelines, power generation and gas storage facilities in Canada and the United States.

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