EX-25.1 12 a2214369zex-25_1.htm EXHIBIT 25.1
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Exhibit 25.1


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)        o



THE BANK OF NEW YORK MELLON
(Exact name of trustee as specified in its charter)

New York
(Jurisdiction of incorporation
if not a U.S. national bank)

  13-5160382
(I.R.S. employer
identification no.)

One Wall Street, New York, N.Y.
(Address of principal executive offices)

 

10286
(Zip code)



TC PipeLines, LP
(Exact name of obligor as specified in its charter)


Delaware
(State or other jurisdiction of
incorporation or organization)

  52-2135448
(I.R.S. employer
identification no.)

717 Texas Street, Suite #2400
Houston, Texas
(Address of principal executive offices)

 

77002
(Zip code)



Senior Debt Securities
(Title of the indenture securities)

   


1.     General information. Furnish the following information as to the Trustee:

    (a)   Name and address of each examining or supervising authority to which it is subject.

  Name   Address
 

Superintendent of Banks of the State of New York

  One State Street, New York, N.Y. 10004-1417, and Albany, N.Y. 12223
 

Federal Reserve Bank of New York

 

33 Liberty Street, New York, N.Y. 10045

 

Federal Deposit Insurance Corporation

 

Washington, D.C. 20429

 

New York Clearing House Association

 

New York, N.Y. 10005

    (b)   Whether it is authorized to exercise corporate trust powers.

        Yes.

2.     Affiliations with Obligor.

    If the obligor is an affiliate of the trustee, describe each such affiliation.

        None.

16.   List of Exhibits.

    Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17 C.F.R. 229.10(d).

    1.
    A copy of the Organization Certificate of The Bank of New York Mellon (formerly known as The Bank of New York, itself formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672, Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637, Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152735).

    4.
    A copy of the existing By-laws of the Trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-188382).

    6.
    The consent of the Trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-188382).

    7.
    A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.

2



SIGNATURE

        Pursuant to the requirements of the Act, the trustee, The Bank of New York Mellon, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State of New York, on the 10th day of May, 2013.

 

THE BANK OF NEW YORK MELLON

 

By:

 

/s/ ARLENE THELWELL


Name: Arlene Thelwell
Title:  Vice President

3



Exhibit 7


Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON

of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,

a member of the Federal Reserve System, at the close of business March 31, 2013, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.

ASSETS
  Dollar amounts in thousands  

Cash and balances due from depository institutions:

       

Noninterest-bearing balances and currency and coin

    3,009,000  

Interest-bearing balances

    110,366,000  

Securities:

       

Held-to-maturity securities

    11,679,000  

Available-for-sale securities

    90,658,000  

Federal funds sold and securities purchased under agreements to resell:

       

Federal funds sold in domestic offices

    12,000  

Securities purchased under agreements to resell

    1,507,000  

Loans and lease financing receivables:

       

Loans and leases held for sale

    0  

Loans and leases, net of unearned income

    30,711,000  

LESS: Allowance for loan and lease losses

    214,000  

Loans and leases, net of unearned income and allowance

    30,497,000  

Trading assets

    5,884,000  

Premises and fixed assets (including capitalized leases)

    1,170,000  

Other real estate owned

    3,000  

Investments in unconsolidated subsidiaries and associated companies

    1,054,000  

Direct and indirect investments in real estate ventures

    0  

Intangible assets:

       

Goodwill

    6,401,000  

Other intangible assets

    1,414,000  

Other assets

    13,654,000  
       

Total assets

    277,308,000  
       

ASSETS
  Dollar amounts in thousands  

LIABILITIES

       

Deposits:

       

In domestic offices

    119,812,000  

Noninterest-bearing

    74,186,000  

Interest-bearing

    45,626,000  

In foreign offices, Edge and Agreement subsidiaries, and IBFs

    113,384,000  

Noninterest-bearing

    7,043,000  

Interest-bearing

    106,341,000  

Federal funds purchased and securities sold under agreements to repurchase:

       

Federal funds purchased in domestic offices

    1,566,000  

Securities sold under agreements to repurchase

    684,000  

Trading liabilities

    6,555,000  

Other borrowed money:

       

(includes mortgage indebtedness and obligations under capitalized leases)

    3,766,000  

Not applicable

       

Not applicable

       

Subordinated notes and debentures

    1,065,000  

Other liabilities

    11,146,000  
       

Total liabilities

    257,978,000  
       

EQUITY CAPITAL

       

Perpetual preferred stock and related surplus

    0  

Common stock

    1,135,000  

Surplus (exclude all surplus related to preferred stock)

    9,791,000  

Retained earnings

    8,517,000  

Accumulated other comprehensive income

    -463,000  

Other equity capital components

    0  

Total bank equity capital

    18,980,000  

Noncontrolling (minority) interests in consolidated subsidiaries

    350,000  

Total equity capital

    19,330,000  
       

Total liabilities and equity capital

    277,308,000  
       

        I, Thomas P. Gibbons, Chief Financial Officer of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.

 
Thomas P. Gibbons,
Chief Financial Officer
   

        We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.

Gerald L. Hassell

       

Catherine A. Rein

  Directors    

Michael J. Kowalski

       



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SIGNATURE
Consolidated Report of Condition of THE BANK OF NEW YORK MELLON of One Wall Street, New York, N.Y. 10286 And Foreign and Domestic Subsidiaries,