GTN is a 2,178 km pipeline that transports natural gas under long-term contracts from the Western Canada Sedimentary Basin and the Rocky Mountains to Washington, Oregon and California.
The $US446 million transaction is comprised of $US253 million in cash, the assumption of $US98 million in proportional GTN debt and the issuance of $US95 million of new Class B units to TransCanada.
TransCanada, through its subsidiaries, currently holds a 28 per cent interest in TC PipeLines, a US master limited partnership, which was formed to acquire, own, and actively participate in the management of US natural gas pipelines and related assets.
TransCanada operates a network of natural gas pipelines that extends more than 68,000 km, tapping into virtually all major gas supply basins in North America.