Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 0

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 0
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Filed pursuant to General Instruction II.L of Form F-10
File No. 333-283633 PROSPECTUS SUPPLEMENT (To Prospectus Dated December 5, 2024) TransCanada PipeLines Limited U.S.$350,000,000 6.250% Junior Subordinated Notes Due 2085 We are offering U.S.$350,000,000 aggregate principal amount of 6.250% Junior Subordinated Notes due 2085 (the “ Notes”). The Notes will mature on November 1, 2085 (the “ Maturity Date”). The Notes will bear interest at the rate of 6.250% per annum. Interest on the Notes will be payable quarterly in arrears on February 1, May1, August1 and November 1 of each year (each such date, an “ Interest Payment Date”), commencing on February 1, 2026 (long first coupon), subject to deferral as described under “ Description of the Notes—Deferral Right”. So long as no event of default has occurred and is continuing, we may elect, in our sole discretion, at any date other than an Interest Payment Date, to defer the interest payable on the Notes on one or more occasions for up to 10 consecutive years (a “ Deferral Period”). Deferred interest will accrue, compounding on each subsequent Interest Payment Date, until paid. No Deferral Period may extend beyond the Maturity Date. If we elect to defer interest payable on the Notes, we and TC Energy Corporation will be subject to the restrictions described under “ Description of the Notes—Dividend Stopper Undertaking”. The Notes will be issued in United States dollars. We may, at our option, redeem the Notes, in whole or in part, at any time and from time to time, on or after November 1, 2030 at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest to, but excluding, the date fixed for redemption. Prior to November 1, 2030, upon or following the occurrence of a Tax Event (as defined herein), we may, at our option, redeem all (but not less than all) of the Notes at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest to, but excluding, the date fixed for redemption. Prior to November 1, 2030, upon or following the occurrence of a Rating Event (as defined herein), we