Sale of gas transmission system to bolster TC Energy’s balance sheet
- TC Energy and Energir to sell Portland Natural Gas Transmission System to BlackRock
- Sale expected to raise roughly $545 million for TC Energy
- TC Energy aims to strengthen its balance sheet through asset sales
- Portland Natural Gas is a regulated gas transporter serving New England and Atlantic Canada markets
TC Energy and partner Energir have agreed to sell the Portland Natural Gas Transmission System to BlackRock for a gross purchase price of $1.14 billion. This sale, which includes the assumption of $250 million of outstanding senior notes, is expected to raise approximately $545 million for TC Energy. The move is part of TC Energy’s strategy to strengthen its balance sheet by delivering about $2.2 billion in asset sales this year. Portland Natural Gas is a regulated gas transporter that serves the upper New England and Atlantic Canada markets.
Factuality Level: 9
Factuality Justification: The article provides a clear and concise overview of TC Energy’s sale of the Portland Natural Gas Transmission System to BlackRock. It includes relevant details such as the purchase price, the ownership structure, and the strategic reasons behind the sale. There are no apparent digressions, misleading information, sensationalism, redundancy, or opinionated content present in the article.
Noise Level: 3
Noise Justification: The article provides relevant information about TC Energy’s sale of Portland Natural Gas Transmission System to BlackRock, including details about the sale price, the companies involved, and the impact on TC Energy’s balance sheet. The article stays on topic and does not contain irrelevant or misleading information. It supports its claims with specific details and data, making it a relatively low noise article.
Financial Relevance: Yes
Financial Markets Impacted: The sale of Portland Natural Gas Transmission System may impact the natural gas market and the companies involved in the transaction, including TC Energy, Energir, and BlackRock.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to a financial topic as it discusses TC Energy’s sale of Portland Natural Gas Transmission System to BlackRock. The sale may impact the natural gas market and the companies involved. However, there is no mention of any extreme event in the article.
Public Companies: TC Energy (TRP)
Private Companies: Energir,BlackRock
Key People: Robb M. Stewart (Author)
Reported publicly:
www.marketwatch.com 
