Market Chatter: TC Energy to Compensate Investors of Aspen Bond Deal
TC Energy (TRP) will compensate investors of CA$1 billion ($736.1 million) Aspen Investments bond transaction after the deal fell through, Bloomberg News reported Friday, citing the company.
Aspen Investments planned to sell the bond and use proceeds to purchase a stake in TC Energy's network of natural gas infrastructure in western Canada but the transaction did not close, according to the report.
"The aggregate compensation is not material to TC Energy and will be paid directly by the company and not via customers or partners," TC Energy was quoted as saying, according to the news outlet.
Neither TC Energy nor Aspen Investments immediately responded to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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