SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 13SUBSEQUENT EVENTS On October 1, 2014, we acquired the remaining 30 percent interest of Bison from a subsidiary of TransCanada. The total purchase price of the 2014 Acquisition was $215 million plus purchase price adjustments. The acquisition of Bison was financed through combinations of (i) net proceeds from the ATM program, and (ii) short-term financing. The 2014 Acquisition, which resulted in Bison being wholly-owned by the Partnership, will continue to be accounted for as a transaction between entities under common control, similar to pooling of interests, whereby the assets and liabilities of Bison will be recorded at TransCanada’s carrying value and the total excess purchase price paid will be recorded as a reduction in Partners’ Equity. (See also Note 2). On October 1, 2014, the Partnership borrowed $170 million (Short - Term Loan Facility) payable in 364-days. The outstanding principal bears interest based on the LIBOR plus an applicable margin. The Short - Term Loan Facility contains a covenant requiring us to maintain a maximum agreed upon leverage ratio. The Partnership used the proceeds to fund the 2014 Acquisition and reduce the amount outstanding under its Senior Credit Facility. On October 23, 2014, the board of directors of our General Partner declared the Partnership’s third quarter 2014 cash distribution in the amount of $0.84 per common unit payable on November 14, 2014 to unitholders of record as of November 4, 2014. GTN declared a third quarter 2014 distribution of $26 million on October 14, 2014, of which the Partnership will receive its 70 percent share or $18 million on November 3, 2014. Northern Border declared a third quarter 2014 distribution of $38 million on October 21, 2014, of which the Partnership will receive its 50 percent share or $19 million on November 3, 2014. Bison declared a third quarter 2014 distribution of $16 million on October 14, 2014. The Partnership will receive 100 percent share of this distribution on November 3, 2014. Great Lakes declared a third quarter 2014 distribution of $8 million on October 14, 2014, of which the Partnership will receive its 46.45 percent share or $4 million on November 3, 2014.

NOTE 13SUBSEQUENT EVENTS

On October 1, 2014, we acquired the remaining 30 percent interest of Bison from a subsidiary of TransCanada. The total purchase price of the 2014 Acquisition was $215 million plus purchase price adjustments. The acquisition of Bison was financed through combinations of (i) net proceeds from the ATM program, and (ii) short-term financing.

The 2014 Acquisition, which resulted in Bison being wholly-owned by the Partnership, will continue to be accounted for as a transaction between entities under common control, similar to pooling of interests, whereby the assets and liabilities of Bison will be recorded at TransCanada’s carrying value and the total excess purchase price paid will be recorded as a reduction in Partners’ Equity. (See also Note 2).

On October 1, 2014, the Partnership borrowed $170 million (Short - Term Loan Facility) payable in 364-days. The outstanding principal bears interest based on the LIBOR plus an applicable margin. The Short - Term Loan Facility contains a covenant requiring us to maintain a maximum agreed upon leverage ratio. The Partnership used the proceeds to fund the 2014 Acquisition and reduce the amount outstanding under its Senior Credit Facility.

On October 23, 2014, the board of directors of our General Partner declared the Partnership’s third quarter 2014 cash distribution in the amount of $0.84 per common unit payable on November 14, 2014 to unitholders of record as of November 4, 2014.

GTN declared a third quarter 2014 distribution of $26 million on October 14, 2014, of which the Partnership will receive its 70 percent share or $18 million on November 3, 2014.

Northern Border declared a third quarter 2014 distribution of $38 million on October 21, 2014, of which the Partnership will receive its 50 percent share or $19 million on November 3, 2014.

Bison declared a third quarter 2014 distribution of $16 million on October 14, 2014. The Partnership will receive 100 percent share of this distribution on November 3, 2014.

Great Lakes declared a third quarter 2014 distribution of $8 million on October 14, 2014, of which the Partnership will receive its 46.45 percent share or $4 million on November 3, 2014.