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TransCanada Completes Largest Share Sale in Canadian History

TransCanada Corporation completed a public offering in the United States and Canada of subscription receipts for gross proceeds of approximately Cdn$4.42 billion. The proceeds of the offering will be used to finance a portion of TransCanada's $10.2 billion acquisition of Columbia Pipeline Group, Inc. Each subscription receipt entitles the holder thereof to receive one common share of TransCanada upon the closing of the acquisition. As reported byBloomberg, the offering represents the largest share sale in Canadian history.

TransCanada is a Canadian company that operates primarily in three business segments: natural gas pipelines, oil pipelines and energy. Paul, Weiss represented the underwriters, led by RBC Dominion Securities Inc. and TD Securities Inc. in connection with the offering.

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

April 1, 2016

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