05:18 PM EDT, 10/09/2025 (MT Newswires) -- TC Energy ( TRP ) after trade Thursday said its TransCanada PipeLines unit completed a US$350 million debt offering.

The offering consists of junior subordinated notes with a fixed interest rate of 6.25%, due Nov. 1, 2085.

The company said it plans to use the proceeds to redeem all outstanding Series 11 preferred shares on Nov. 28, at a redemption price of $25 per share. Some of the funds may also go toward reducing debt and for general corporate purposes.

If approved by the board, a final quarterly dividend of $0.2094375 per share will be paid on Nov. 28 to shareholders of record as of Nov. 17, the company added.