TransCanada Raising Money Hand Over Fist to Pay for Columbia Pipe

In early November Canadian midstream giant TransCanada announced they were going on a fundraising bender to get money to pay for their recent $10 billion acquisition of Columbia Pipeline (see TransCanada Raising Big $ to Complete Buyout of Columbia Pipeline). At the time, TransCanada announced the company would float another $3.2 billion (Canadian) in new stock and sell off their electric power assets in New England (mostly hydropower) for $3.7 billion (U.S.). In just the past couple of weeks, the company has floated new common stock, raising $3.5 billion (Canadian), and preferred stock, raising an additional $1 billion (Canadian). Here’s the latest on how to raise money fast to buy a big pipeline company…