JUNIOR SUBORDINATED NOTES (Tables)

12 Months Ended

Dec. 31, 2017

Junior Subordinated Notes [Abstract]

Schedule of Junior Subordinated Notes

		2017					2016
Outstanding loan amount	Maturity Date	Outstanding at December 31		Effective Interest Rate			Outstanding at December 31		Effective Interest Rate
(millions of Canadian $, unless otherwise noted)
TRANSCANADA PIPELINES LIMITED
U.S.$1,000 notes issued 20071	2067	1,252		5.0	%	3	1,343		6.4	%
U.S.$750 notes issued 20151,2	2075	939		5.9	%		1,007		5.5	%
U.S.$1,200 notes issued 20161,2	2076	1,502		6.6	%		1,611		6.2	%
U.S.$1,500 notes issued 20171, 2	2077	1,878		5.6	%		—		—
$1,500 notes issued 2017 1, 2	2077	1,500		5.1	%		—		—
		7,071					3,961
Unamortized debt discount and issue costs		(64	)				(30	)
		7,007					3,931

1 The Junior subordinated notes are subordinated in right of payment to existing and future senior indebtedness or other obligations of TCPL.

2 The Junior subordinated notes were issued to TransCanada Trust, a financing trust subsidiary wholly-owned by TCPL. While the obligations of the Trust are fully and unconditionally guaranteed by TCPL on a subordinated basis, the Trust is not consolidated in TCPL's financial statements since TCPL does not have a variable interest in the Trust and the only substantive assets of the Trust are junior subordinated notes of TCPL.

3 In May 2017, Junior subordinated notes of US$1 billion converted from fixed rate of 6.35 per cent to a floating rate that is reset quarterly to the three month LIBOR plus 2.21 per cent.