Posted on 18/11/08
TransCanada taps market for $1-billion
TORONTO, CALGARY -- The credit crunch isn't slowing the continental ambitions of TransCanada Corp., as the pipeline operator defied bear market sentiment by raising $1-billion yesterday in a stock sale.At a time when many companies are scaling back capital spending - U.S. energy plays have slashed capital spending forecasts by 24 per cent and major oil sands developments are being reined back - TransCanada raised cash to build the Keystone pipeline that will connect Alberta's oil sands with Gulf of Mexico refineries.
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