TC Energy to get secured project financing construction facility

By Sarah Lizee

Olympia, Wash., Dec. 30 – TC Energy Corp. said it expects its Coastal GasLink Pipeline Project will enter into a secured project financing construction credit facility with a syndicate of banks to fund up to 80% of the project during construction.

TC Energy entered into an agreement to sell a 65% equity interest in the Coastal GasLink Pipeline Project to KKR and Alberta Investment Management Corp.

Both transactions are expected to close in the first half of 2020, subject to customary regulatory approvals and consents, according to a press release.

RBC Capital Markets is acting as global lead coordinating arranger on the project finance construction facility.

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

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