Company: TCPA
Filing Date: 2025-02-19
Form Type: SUPPL
Source: 0001193125-25-029207
Chunk: 0

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 0
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The information in this preliminary prospectus supplement is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these Notes and are not soliciting an offer to buy these Notes in any jurisdiction where the offer or sale is not permitted. Filed pursuant to General Instruction II.L of Form F-10
File No. 333-283633 SUBJECT TO COMPLETION, DATED FEBRUARY 19, 2025 PRELIMINARY PROSPECTUS SUPPLEMENT (To Prospectus Dated December 5, 2024) TransCanada PipeLines Limited U.S.$ % Fixed-to-FixedRate Junior Subordinated Notes Due 2065 We are offering U.S.$ aggregate principal amount of % Fixed-to-FixedRate Junior Subordinated Notes due 2065 (the “ Notes”). The Notes will mature on , 2065 (the “ Maturity Date”). The Notes will bear interest (i) from, and including, , 2025 to, but not including, , 20 at the rate of % per annum and (ii) from, and including, , 20 , during each Subsequent Fixed Rate Period (as defined herein), at a rate per annum equal to the Five-Year Treasury Rate (as defined herein) as of the most recent Interest Reset Determination Date (as defined herein) plus %, to be reset on each Interest Reset Date (as defined herein). Interest on the Notes will be payable semi-annually in arrears on and of each year (each such date, an “ Interest Payment Date”), commencing on , 2025, 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 at any time or in part from time to time, (i)