TC Energy将通过创建两家优质能源基础设施公司来释放价值,并打算分拆液体管道业务
两家公司的分离可以为能源转型和安全做出更大的贡献
- 通过释放增量增长和提高效率,创造股东价值
- 两家公司的合并股息维持长期股息增长前景
- 投资级液体管道业务的分拆预计将在免税的基础上实现
CALGARY, Alberta, July 27, 2023年(环球新闻专线)——威尼斯电玩城手游公司(TSX, 纽约证券交易所代码:TRP) (TC Energy或公司)今天高兴地宣布,其董事会已批准TC Energy分拆为两家独立公司的计划, investment-grade, 通过剥离威尼斯电玩城手游公司的液体管道业务(交易). 这一决定是经过两年的战略评估后做出的,预计将于2024年下半年在免税的基础上完成.
分拆将为两家公司提供灵活性,通过严格的资本配置来追求各自的增长目标,从而释放股东价值, 提高效率,推动卓越运营. Once completed, the spinoff will result in two high-quality, 专注于能源行业的领导者,致力于为他们的客户和他们运营的社区提供安全可靠的服务.
- TC Energy post-Transaction: A diversified, 行业领先的天然气和能源解决方案公司, 独特的定位,以满足日益增长的行业和消费者对可靠的需求, lower-carbon energy, by leveraging complementary business sets.
- Liquids Pipelines Company:一家重要的基础设施公司,拥有高度战略资产,将弹性和安全的供应与最高需求市场联系起来, 同时提供增量增长和价值创造机会.
“这一变革性的声明将使威尼斯电玩城手游在未来十年乃至更长时间内为股东创造更高的价值. 威尼斯电玩城手游的战略方向始终以基本面为导向, and as a result, 威尼斯电玩城手游已经成长为一家领先的能源公司,拥有广泛的能源基础设施平台. 由于威尼斯电玩城手游已成为合作伙伴的首选,规模不断扩大, high-quality opportunities, 威尼斯电玩城手游已经确定,作为两家独立的公司,威尼斯电玩城手游可以更好地把握这些独特的机会,释放股东价值,” said François Poirier, TC Energy的总裁兼首席执行官.
Following the Transaction, 威尼斯电玩城手游将专注于天然气基础设施, supported by strong, 长期基本面和电力能源解决方案, driven by nuclear, 抽水蓄能和新能源的机遇,同时继续其最大化资产价值和运营绩效的历史.
“威尼斯电玩城手游庞大的战略资产基础凸显了威尼斯电玩城手游在抓住机遇并将其转化为股东持久价值方面的竞争优势. 威尼斯电玩城手游将成为一家拥有稳定资产负债表的公用事业公司, a higher expected comparable EBITDA1,2 复合年增长率为7%,股息年增长率为3- 5%,” continued Poirier. “威尼斯电玩城手游的分拆公告通过最大化威尼斯电玩城手游的资产价值来支持威尼斯电玩城手游2023年的优先事项. This week, 威尼斯电玩城手游还通过达成最终协议筹集5美元,加快了去杠杆化目标.威尼斯电玩城手游宣布出售Columbia Gas和Columbia Gulf系统40%的股权,从而提前完成了威尼斯电玩城手游的年终目标. Further, 威尼斯电玩城手游正在按照计划的成本和进度安全地交付威尼斯电玩城手游的主要项目,如Coastal GasLink和Southeast Gateway.”
新的液体管道公司将专注于通过增加系统未充分利用部分的容量和增加与其他接收和交付点的连接来提高其无与伦比的资产基础的价值. 作为一家低风险企业,它拥有96%的投资级客户和88%的可比EBITDA3 contracted, 液体管道公司保留了TC Energy的溢价价值主张, 并在此基础上进行扩展,灵活地专注于其竞争优势.
“这个团队创造了北美最具竞争力的液体系统之一, with the most direct, 具有成本效益和最高质量的途径进入关键需求市场. 这是一个高度收缩的业务,有长期客户支持的稳定、强劲的现金流. Following the spinoff, 他们将有更大的财务灵活性,可以利用他们成熟的专业知识和竞争足迹来创造增值, disciplined growth opportunities. 作为自己的实体,液体管道公司的可比EBITDA3 预计到2026年将以2%至3%的复合年增长率增长,并有相应的股息增长前景, delivering sustainable shareholder value,” added Poirier.
Experienced leadership at the helm
franois Poirier将继续担任TC Energy的总裁兼首席执行官,并继续担任Siim A的指导. Vanaselja, Chair of TC Energy’s Board. Effective immediately, Stanley (Stan) G. Chapman, III晋升为执行副总裁兼首席运营官, Natural Gas Pipelines, 将威尼斯电玩城手游地理上分散的天然气业务单位整合为一个, unified natural gas pipelines business. 这种整合将通过统一和简化来加强威尼斯电玩城手游的业务模式, leading to safety, operational, commercial, 优秀的资产管理和项目执行.
新的液体管道公司将由Bevin Wirzba担任总裁兼首席执行官, 并将得到一个久经考验的领导团队的支持,他们具有与投资组合直接相关的深厚能力和技能. 公司总部将设在阿尔伯塔省的卡尔加里,并在德克萨斯州的休斯顿设有办事处. 一位德高望重的董事会主席已经确定,并将在未来几个月内与新liquid领导团队和董事会的其他成员一起宣布.
请参阅威尼斯电玩城手游的网站,了解其 leadership team and Board of Directors.
打造两位高品质、专注的能源行业领导者
交易后:能源基础设施公司,其天然气管道和电力及能源解决方案业务部门具有强大的一致性.
- 安全运营着北美最大的天然气能源基础设施网络之一,横跨93年,700 km (58,200 miles), 将成本最低的盆地与主要需求和出口市场连接起来.
- 战略展望的基础是支持天然气和能源解决方案业务的协同属性.
- 从美国出口的液化天然气约占天然气供应总量的30%.S. 随着沿海GasLink的建成,将为加拿大提供与液化天然气市场的首次直接连接.
- 在电力行业超过30年,专注于客户驱动的脱碳解决方案,有能力提供4,600 MW of electricity.
- 承诺保持强劲的资产负债表基本面,并继续推进去杠杆化目标,以进一步提高股东价值.
- 96%受费率管制和/或长期签约的业务提供溢价价值主张.
- 2024年后,每年的净资本支出在60亿至70亿美元之间.
- 在300多亿美元的担保资本计划中,超过60%的资金直接用于实现全球气候目标.
- 2022 comparable EBITDA of $8.预计到2026年将以7%的复合年增长率增长.
- 在保守派息率和北美最大的受监管天然气业务之一的支持下,可持续的年度股息增长率为3%至5%.
液体管道公司:主要供需市场之间最具竞争力的液体连接平台之一, with incremental organic growth opportunities.
- Safely and reliably operates 4,900 km (3,加拿大西部沉积盆地(WCSB) 16%的原油出口量和炼油量都来自加拿大西部沉积盆地(WCSB)。.
- 为PADD 2和3最具弹性的炼油市场提供稳定的WCSB供应, with export connectivity in the Gulf Coast.
- 无与伦比的足迹包括艾伯塔省内部资产(大急流城和白云杉),以及连接艾伯塔省和美国国内的Keystone系统和Marketlink.S. crude oil supplies to U.S. 伊利诺斯州、俄克拉荷马州和美国的炼油市场.S. Gulf Coast, including storage facilities at Hardisty, Alberta; Cushing, Oklahoma; and Houston, Texas.
- 保持对ESG和可持续发展优先事项的坚定承诺, including decarbonization, 并支持WCSB石油公司及其生产商到2050年实现净零排放的目标.
- Differentiated through an industry-leading, 极具竞争力的服务提供与最低的成本之一, 以最快和最高质量的保存路径为关键需求市场提供供应.
- 低风险现金流概况,以最小的容量和商品价格风险, 88%的可比EBITDA收缩,96%的交易量由投资级或同等级别的交易对手支撑.
- 利用现金流和增加的财务灵活性,创造有机增长机会,扩大和加强对现有市场的交付,同时加速去杠杆化.
- 2022 comparable EBITDA of $1.预计到2026年将以2%至3%的复合年增长率增长.
- 预计可持续的年度股息增长率为2%至3%,与可比的EBITDA增长前景相称, 同时坚持保守的派息率.
TC Energy打算两家公司的初始合并股息将相当于TC Energy在交易完成前的年度股息, 随着时间的推移,两家公司的股息总价值预计将保持一致. 股息将在交易后由两家公司各自的董事会决定.
管理层打算利用与其资产基础一致的财务结构对液体管道公司进行资本化, business model and growth plans. Following the Transaction, 管理层预计威尼斯电玩城手游将保持目前的信用评级,而液体管道公司将获得投资级信用评级. 威尼斯电玩城手游公司计划在成本效益的基础上,将其长期债务的大约比例份额转移给液体管道公司.
交易细节,审批和业务连续性
Under the proposed Transaction, TC Energy股东将保留其目前持有的TC Energy普通股(TRP: TSX), TRP: NYSE),并获得新液体管道公司的普通股按比例分配. 对于威尼斯电玩城手游在加拿大和美国的股东来说,这笔交易预计将免税.S. shareholders. 将分配给TC Energy股东的新液体管道公司普通股数量将在拟议交易完成前确定.
TC Energy预计将在2024年年中举行的股东大会上寻求股东批准该交易. 该交易将通过法院批准的安排计划实施 Canada Business Corporations Act. 除了威尼斯电玩城手游股东和法院批准, 此次交易将受到加拿大和美国税收优惠政策的约束.S. tax authorities, 收到必要的监管批准并满足其他惯例成交条件. TC Energy预计该交易将于2024年下半年完成.
在整个分离过程中,威尼斯电玩城手游将确保业务连续性和为其重要客户提供可靠的服务. 在交易完成后,将建立一个分离管理办公室,指导成功的协调和治理,包括制定两个实体之间的分离协议和过渡服务协议.
For additional detail on the Transaction, investor presentation materials and more, please visit our website at
80sw.nongminshuhuayuan.com/liquids-spinoff.
不能保证交易最终会发生或发生, if it does occur, what its structure, terms or timing will be.
Advisors
加拿大皇家银行资本市场(RBC Capital Markets)和加拿大摩根大通证券(JP Morgan Securities Canada)担任TC Energy的财务顾问. Evercore是威尼斯电玩城手游董事会的财务顾问. Blake, Cassels & Graydon LLP and White & Case LLP are acting as legal advisors. TC Energy has also engaged Bain & Company to advise on the separation process.
Conference call and webcast
威尼斯电玩城手游将于周五举行电话会议和网络直播, July 28, 2023, 讨论今天的公告以及第二季度的财务业绩.
François Poirier, TC Energy President and Chief Executive Officer; Joel Hunter, Executive Vice-President and Chief Financial Officer; Bevin Wirzba, Executive Vice-President and Group Executive, 加拿大天然气管道和液体管道, and President, Coastal GasLink; and Stanley (Stan) G. Chapman, III, 执行副总裁兼首席运营官, 天然气管道将在上午6:30讨论财务结果和公司发展.m. MDT / 8:30 a.m. EDT.
欢迎投资界人士及其他有关人士致电1-800-319-4610参加. No passcode is required. 请在电话开始前15分钟拨入. 电话会议的网络直播将在威尼斯电玩城手游公司的网站上提供 http://80sw.nongminshuhuayuan.com/investors/events/ or via the following URL: http://www.gowebcasting.com/12631.
About TC Energy
We’re a team of 7,000+ energy problem solvers working to move, 产生和储存北美所依赖的能源. 今天,威尼斯电玩城手游正在采取行动,使这种能源更可持续、更安全. 威尼斯电玩城手游正在创新和现代化,以减少威尼斯电玩城手游业务的排放. And, 威尼斯电玩城手游正在提供新的能源解决方案——从天然气和可再生能源到碳捕获和氢——以帮助其他企业和行业脱碳. Along the way, 威尼斯电玩城手游投资社区,与邻居合作, 客户和政府共同构建未来的能源体系.
TC Energy的普通股在多伦多(TSX)和纽约(NYSE)证券交易所交易,代码为TRP. To learn more, visit us at TCEnergy.com.
有关威尼斯电玩城手游执行领导团队的更多信息,请访问: TCEnergy.com/about/people
FORWARD-LOOKING INFORMATION
本新闻稿包含某些前瞻性信息, 包括面向未来的财务信息或财务展望, 这是为了帮助现有和潜在的投资者了解管理层对威尼斯电玩城手游未来计划和财务前景的评估, and our future prospects overall. 前瞻性陈述是基于某些假设以及威尼斯电玩城手游今天所知道和期望的情况,通常包括预期等词, expect, believe, may, will, should, estimate or other similar words.
前瞻性陈述不保证未来业绩. 由于假设的原因,实际事件和结果可能会有很大的不同, risks or uncertainties related to our business, 本发布日期之后发生的交易或事件. 威尼斯电玩城手游在本新闻稿中的前瞻性信息包括, but is not limited to, statements related to: the Transaction, including the terms, conditions, structure and timing thereof, 其原因及预期的影响和效益, 包括对股东的预期收益, employees, customers and other stakeholders; the expected attributes and intentions of TC Energy and the Liquids company following the completion of the Transaction, including in relation to future dividends, capitalization, management, credit ratings, ESG and sustainability-related matters, energy security, leverage and capital allocation and the ability to transition a portion of TC Energy’s long-term debt to the Liquids company on a cost-effective basis; expectations regarding future energy demand; projections regarding TC Energy and the Liquids company, including projections of 2022-2026 compounded annual comparable EBITDA growth rate; the anticipated tax impact of the Transaction on shareholders, including the expectation that the separation will be achieved on a tax-free basis for TC Energy shareholders; TC Energy's intentions with respect to the period preceding the completion of the Transaction; the expected timing of a meeting of TC Energy shareholders to approve the Transaction; and our ability to complete the announced sale of a 40 per cent equity interest in the Columbia Gas and Columbia Gulf systems.
威尼斯电玩城手游的前瞻性信息基于某些关键假设,并受到风险和不确定性的影响, including but not limited to the realization of the anticipated benefits of the Transaction; the terms, timing and completion of the Transaction, 包括及时收到所有必要的法庭文件, regulatory, third-party and shareholder approvals; the timely receipt of advance tax rulings from the Canada Revenue Agency and Internal Revenue Service, in each case, in form and substance satisfactory to TC Energy and that such rulings are not withdrawn or modified; the growth of the North American energy market; the ability of TC Energy and the Liquids Company to successfully implement their respective strategic priorities and whether they will yield the expected benefits; the ability of TC Energy and the Liquids Company to implement capital allocation strategies aligned with maximizing shareholder value; the operating performance of the respective assets of TC Energy and the Liquids Company; the amount of capacity sold and rates achieved in the pipeline businesses of TC Energy and the Liquids Company; the amount of capacity payments and revenues from TC Energy's power generation assets due to plant availability; production levels within supply basins; construction and completion of capital projects; cost and availability of, and inflationary pressure on, labour, equipment and materials; the availability and market prices of commodities; access to capital markets on competitive terms, including the Liquids company’s access to capital markets to provide for the transition a portion of TC Energy’s long-term debt to the Liquids company on a cost-effective basis; interest, tax and foreign exchange rates; performance and credit risk of counterparties; our and the Liquids company’s ability to maintain their respective credit ratings; regulatory decisions and outcomes of legal proceedings, including arbitration and insurance claims; our ability to effectively anticipate and assess changes to government policies and regulations, including those related to the environment and COVID-19; our ability and the ability of the Liquids company to realize the value of tangible assets and contractual recoveries from impaired assets, including the Keystone XL pipeline project; competition in the businesses in which TC Energy and the Liquids company will operate; unexpected or unusual weather; acts of civil disobedience; cyber security and technological developments; ESG-related risks; impact of energy transition on our business and the future business of the Liquids company; economic conditions in North America as well as globally; and global health crises, 例如流行病和流行病以及与之相关的影响.
由于实际结果可能与前瞻性信息有很大差异, 您不应过分依赖前瞻性信息, 哪个是在本新闻稿或其他新闻稿中表达的日期给出的, 不应将面向未来的信息或财务前景用于任何超出其预期目的的事情. 威尼斯电玩城手游不会因新信息或未来事件而更新威尼斯电玩城手游的前瞻性陈述, unless we are required to by law. 有关所作假设的更多资料, 以及可能导致实际结果与预期结果不同的风险和不确定性, 请参阅TC Energy在SEDAR+网站上提交的最新股东季度报告和年度报告 www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.
NON-GAAP MEASURES
本新闻稿指的是可比较的EBITDA,该EBITDA没有美国法律规定的任何标准化含义.S. 因此,GAAP可能无法与其他实体提出的类似措施进行比较. 财务报表中最直接的可比指标是分段收益. 对截至12月31日止年度的可比EBITDA和分段收益进行调整, 2022 and 2021, 参考威尼斯电玩城手游管理层的讨论和分析中适用的业务部门(MD)&A)这些期间,这些章节通过参考并入本协议. Refer to the non-GAAP measures section of the MD&A在威尼斯电玩城手游最近的季度报告中了解更多威尼斯电玩城手游使用的非公认会计准则衡量标准的信息, which section of the MD&A is incorporated by reference herein. The MD&A can be found on SEDAR+ at www.sedarplus.ca under TC Energy’s profile.
Media Inquiries:
Media Relations
media@nongminshuhuayuan.com
403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:
Gavin Wylie / Hunter Mau
investor_relations@nongminshuhuayuan.com
403-920-7911 or 800-361-6522
________________________
1 Comparable EBITDA is a non-GAAP measure, 在公认会计准则下没有任何标准化的含义,因此不太可能与其他公司提出的类似措施进行比较. 在威尼斯电玩城手游的财务报表中,最直接的可比指标是分段收益.
2 Our full-year segmented earnings, 不包括威尼斯电玩城手游的液体管道业务部门, for 2022 and 2021 were $2.5 billion and $5.7 billion, respectively. Our full-year comparable EBITDA, 不包括威尼斯电玩城手游的液体管道业务部门, for 2022 and 2021 were $8.5 billion and $7.8 billion, respectively. 有关更多信息,请参阅“前瞻性信息”和“非公认会计准则指标”.
3 2022年和2021年液体管道业务部门的全年细分收益/(亏损)为1美元.1 billion and ($1.6 billion), respectively. 2022年和2021年液体管道业务部门的全年可比EBITDA为1美元.4 billion and $1.5 billion, respectively. 有关更多信息,请参阅“前瞻性信息”和“非公认会计准则指标”.
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