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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
___________
FORM
8-K
CURRENT
REPORT
Pursuant
To Section 13 or 15(d) of the Securities Exchange Act of
1934
|
Date
of Report (Date of earliest event reported)
|
April
17, 2008
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|
TC
PipeLines, LP
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(Exact
name of registrant as specified in its
charter)
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Delaware
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000-26091
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52-2135448
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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13710
FNB Parkway
Omaha,
Nebraska
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68154-5200
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code
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(877)
290-2772
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(Former
name or former address if changed since last
report)
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
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(17
CFR 240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
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(17
CFR 240.13e-4(c))
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Item 7.01
Regulation FD
Disclosure.
In
accordance with General Instruction B.2 of Form 8-K, the information presented
herein under Item 7.01 shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it
be deemed incorporated by reference in any filing under the Securities Act
of
1933, as amended, or Securities Exchange Act of 1934, as amended, except as
expressly set forth by specific reference in such a filing.
On
April 17, 2008, TC PipeLines, LP (the “Partnership”) issued a press release
announcing that the Partnership’s board of directors has declared the
Partnership’s first quarter 2008 cash distribution in the amount of US$0.70 per
unit. This cash distribution represents a 5.3 per cent increase from the fourth
quarter 2007 distribution of $0.665 per unit, and a 7.7 per cent increase from
the first quarter 2007 distribution. The Partnership is furnishing a
copy of such press release as Exhibit 99.1 hereto.
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(d)
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Exhibits.
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99.1 Press
Release dated April 17, 2008
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
TC
PipeLines, LP
by: TC
PipeLines GP, Inc.,
its
general partner
By: /s/
Amy W.
Leong
Amy
W.
Leong
Principal
Financial Officer and Controller
Dated: April
18, 2008
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Exhibit
Index
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Exhibit
No.
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Description
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99.1
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Press
Release dated April 17, 2008.
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Exhibit
99.1
NewsRelease
TC
PipeLines, LP Increases First Quarter Cash Distribution
and
Schedules Earnings Teleconference and Webcast
Calgary,
Alberta – April 17, 2008 – (Nasdaq: TCLP) – TC PipeLines, LP (the Partnership)
today announced the board of directors of TC PipeLines GP, Inc., its general
partner, has declared the Partnership’s first quarter 2008 cash distribution in
the amount of US$0.70 per unit. This cash distribution represents a 5.3 per
cent
increase from the fourth quarter 2007 distribution of $0.665 per unit, and
a 7.7
per cent increase from the first quarter 2007 distribution.
Since
January 1, 2007 the Partnership’s annualized cash distribution has increased
from $2.40 per unit to $2.80 per unit with this announcement.
The
cash
distribution is the 36th consecutive
quarterly distribution paid by the Partnership and represents the fourth
increase in the past year. This distribution is payable on May 15, 2008 to
unitholders of record as of April 30, 2008.
“We’re
pleased with the strong performance of our Northern Border and Great Lakes
pipelines, and with the completion of the Tuscarora expansion project on April
1,” said Russ Girling, chairman and chief executive officer of TC PipeLines GP,
Inc. “Our business strategy is working and we want to share that success with
our unitholders. Since the beginning of 2007 we have increased the cash
distribution to our unitholders by 17 per cent.”
The
Partnership will release its first quarter 2008 financial results on Thursday,
April 24, 2008. Analysts, members of the public, the media and other interested
parties are invited to participate in a teleconference and audio webcast on
Thursday, April 24, 2008 at 10:00 a.m. (Mountain) and 12:00 p.m.
(Eastern). Mark Zimmerman, president of the general partner, will
discuss the first quarter 2008 financial results and general developments and
issues concerning the Partnership. To participate, please call (866) 225-0198.
A
replay of the conference call will also be available two hours after the
conclusion of the call and until midnight, Thursday, May 1, 2008, by dialing
(800) 408-3053, then entering pass code 3258631.
A
live
webcast of the conference call will also be available through the Partnership’s
website at www.tcpipelineslp.com. An audio replay of the call will be
maintained on the website.
TC
PipeLines, LP is a publicly traded limited partnership. TC PipeLines, LP has
interests in more than 3,600 miles of federally regulated U.S. interstate
natural gas pipelines, including Great Lakes Gas Transmission Limited
Partnership (46.45 per cent ownership), Northern Border Pipeline Company (50
per
cent ownership) and Tuscarora Gas Transmission Company (100 per cent ownership).
Great Lakes is a 2,115-mile pipeline serving markets in Minnesota, Wisconsin,
Michigan and eastern Canada. The 1,249-mile Northern Border Pipeline transports
natural gas from the Montana-Saskatchewan border to markets in the midwestern
United States. Tuscarora owns a 240-mile pipeline system that transports natural
gas from Oregon where it interconnects
to TransCanada’s
Gas Transmission Northwest System. TC PipeLines, LP is managed by its general
partner, TC PipeLines GP, Inc., an indirect wholly owned subsidiary of
TransCanada Corporation. TC PipeLines GP, Inc., also holds common units of
TC
PipeLines, LP. Common units of TC PipeLines, LP are quoted on the NASDAQ Stock
Market and trade under the symbol “TCLP.” For more information about TC
PipeLines, LP, visit the Partnership’s website at www.tcpipelineslp.com.
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30
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Media
Inquiries
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Shela
Shapiro/Cecily Dobson
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(403)
920-7859
(800)
608-7859
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Unitholder
and Analyst Inquiries:
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Myles
Dougan
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(877)
290-2772
investor_relations@tcpipelineslp.com
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