November 14, 2016 / 2:22 PM / 10 months ago

BRIEF-Transcanada announces preferred share issuance

Nov 14 (Reuters) - Transcanada Corp

* Transcanada announces preferred share issuance

* Transcanada Corp will issue 20 million cumulative redeemable minimum rate reset first preferred shares, series 15 at a price of $25.00 per share

* Net proceeds of offering will be used for general corporate purposes and to reduce short term indebtedness of Transcanada

* Holders of series 15 preferred shares will be entitled to receive fixed cumulative dividends at an annual rate of $1.2250 per share

* Series 15 preferred shares will yield 4.90 per cent per annum for initial fixed rate period ending May 31, 2022 Source text for Eikon: Further company coverage:

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