TC Energy to spin off liquid pipelines business along with proportionate debt

By Wendy Van Sickle

Columbus, Ohio, July 27 – TC Energy Corp. said its board of directors has approved plans for the company to separate into two independent, investment-grade, publicly listed companies through the spinoff of its liquids pipelines business, according to a news release.

TC Energy plans to transition an approximately proportionate share of its long-term debt to the liquids pipelines company on a cost-effective basis. The spinoff is expected to be complete in the second half of 2024.

The liquid pipelines will have headquarters in Calgary, Alta., with an office in Houston.

The Calgary, Alta.-based natural gas company develops and operates energy infrastructure in Canada, the United States and Mexico.

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