TC Energy completes the sale of Portland Natural Gas Transmission System
TC Energy Corporation has completed the sale of the Portland Natural Gas Transmission System (PNGTS) for a gross purchase price of approximately US$1.14 billion. The buyers will assume US$227 million in outstanding Senior Notes. This sale supports TC Energy's goal of achieving US$5 billion in asset divestitures by 2024. TC Energy aims to maintain a debt-to-EBITDA ratio of 4.75 times by year-end. The proceeds from the sale will be divided between TC Energy and its partner Énergir based on their ownership interests. The company is committed to a smooth transition of the natural gas system with the new owners.
Source: Benzinga The copyright of this article belongs to the original author/organization.
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