July 28, 2016 / 12:50 PM / a year ago

BRIEF-Transcanada Corp reports Q2 revenue $2.75 billion

2 Min Read

July 28 (Reuters) - Transcanada Corp :

* Q2 revenue $2,751 million versus $2,631 million

* $25 billion portfolio of near-term capital projects, energy assets may augment expected 8 to 10 per cent annual dividend growth rate through 2020

* Expect to invest about US$1.3 billion in partnership to construct Sur De Texas-Tuxpan Pipeline with anticipated in-service date of late 2018

* Decision on MLP strategy is expected to be communicated by end of 2016

* Permanent financing for acquisition of Columbia pipeline group involves portfolio management

* Portfolio management for Columbia pipeline acquisition financing includes monetization of us northeast power assets, interest in Mexican pipelines

* Process of engaging advisors for monetization of U.S. Northeast Power assets, Mexican pipelines interest completed; initial stages of soliciting interested parties underway

* Expect to provide update on outcome of engaging advisors for monetization of U.S. Northeast power assets, interest in Mexican pipelines by end of 2016

* Proceeds from monetizations will be used to retire draws from bridge loan facilities

* Sees US$250 million of annual cost, revenue and financing benefits over next two years of ownership of Columbia pipeline

* Decision on Master Limited Partnership strategy review strategy is expected to be communicated by end of 2016 Source text for Eikon: Further company coverage:

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