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

~~PURSUANT~~Date TOof ~~SECTION~~report (Date 13of ~~OR 15(d~~earliest event reported): July OF25, ~~THE SECURITIES EXCHANGE ACT OF 1934~~2002

TRANSCANADA CAPITAL

(Exact name of Registrant as Specified in Charter)

~~Date~~Delaware (State or Other Jurisdiction of ~~report~~ Incorporation) 1-14420 (~~Date~~Commission ofFile ~~earliest event reported~~Number)~~: November~~ 9,13-7095718 ~~2001~~(IRS Employer Identification No.)

~~Delaware~~c/o ~~(State~~The orBank ~~Other~~of ~~Jurisdiction~~New ofYork, ~~Incorporation)~~as ~~1-14420~~Administrative ~~(Commission~~Trustee ~~File~~101 ~~Number)~~Barclay ~~13-7095718~~StreetNew York, New York (~~IRS~~Address ~~Employer~~of ~~Identification~~Principal ~~No.~~Executive Offices) 10286 (Zip Code)

~~c/o~~ (212) ~~The~~815-3200 Registrant's ~~Bank~~telephone ~~of New York~~number, asincluding ~~Administrative~~area ~~Trustee 101 Barclay StreetNew York, New York (Address of Principal Executive Offices) 10286 (Zip Code)~~code

N/A
(Former Name or Former Address, if Changed Since Last Report)

~~(212)~~Item ~~815-3200 Registrant's~~1. ~~telephone~~Changes ~~number,~~in ~~including~~Control ~~area~~of ~~code~~Registrant. Not applicable.

Item 12. ~~Changes~~Acquisition inor ~~Control~~Disposition of ~~Registrant~~Assets. Not applicable.

Item 23. ~~Acquisition~~Bankruptcy or ~~Disposition of Assets~~Receivership. Not applicable.

Item 34. ~~Bankruptcy~~Changes orin ~~Receivership~~Registrant's Certifying Accountant. Not applicable.

Item 45. ~~Changes~~Other ~~in Registrant's Certifying Accountant~~Events. ~~Not applicable.~~

~~Item~~ 1. 5Receipt of $3,500,196.88 ~~Other~~of ~~Events~~interest on TransCanada Pipeline Limited 8.75% Junior Subordinated Debentures due July 24, 2045 on July 1, 2002.

1. ~~Receipt~~ 2. ofPayment of $3,500,196.88 ofto ~~interest~~holders onof TransCanada ~~Pipeline~~Capital ~~Limited~~Cumulative Trust ~~8.75%~~Originated ~~Junior~~Preferred ~~Subordinated~~Securities ~~Debentures~~and ~~due~~Common ~~July~~Stock ~~24, 2045~~ on ~~October~~July 1, ~~2001~~2002.

~~2. Payment~~Item ~~of $3,500,196~~6.88 toResignation ~~holders~~ of ~~TransCanada~~Registrant's ~~Capital Cumulative Trust Originated Preferred Securities and Common Stock on October 1, 2001~~Directors.

~~Item 6. Resignation of Registrant's Directors.~~ Not applicable.

Item 7.

Financial Statements, Pro Forma Financial Information and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Exhibits.

1. ~~Administrative~~ Administrative Trustee’s Report in respect of (i) receipt of $3,500,196.88 of interest on TransCanada Pipeline Limited 8.75% Junior Subordinated Debentures due July 24, 2045 on ~~October~~July 1, ~~2001~~2002 and (ii) payment of $3,500,196.88 to holders of TransCanada Capital Cumulative Trust Originated Preferred Securities and Common Stock on ~~October~~July 1, ~~2001~~2002.

Item 8. Change in Fiscal Year. ~~Not applicable.~~

2 Not applicable.

SIGNATURE

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 thereunto duly authorized.

TRANSCANADA CAPITAL
(Registrant)

By: THE BANK OF NEW YORK
     as Administrative Trustee

By: /s/ Vanessa Mack
      Vanessa Mack
      Assistant Vice President

Dated: ~~November~~July 925, ~~2001~~2002

EXHIBIT INDEX

~~EXHIBIT~~Exhibit ~~INDEX~~No. 99 Administrative Trustee's Report in respect of (i) receipt of $3,500,196.88 of interest on TransCanada Pipeline Limited 8.75% Junior Subordinated Debentures due July 24, 2045 and (ii) payment of $3,500,196.88 to holders of TransCanada Capital Cumulative Trust Originated Preferred Securities and Common Stock on July 1, 2002. Page 5

Exhibit No. 99 Administrative Trustee's Report in respect of (i) receipt of $3,500,196.88 of interest on TransCanada Pipeline Limited 8.75% Junior Subordinated Debentures due July 24, October 1, 2001 and (ii) payment of $3,500,196.88 to holders of TransCanada Capital Cumulative Trust Originated Preferred Securities and Common Stock on October 1, 2001. Page 5

EXHIBIT 99

TRANSCANADA CAPITAL

CASH TRANSACTIONS - ADMINISTRATIVE TRUSTEE'S REPORT

107/011/0102 107/011/0102 Receipt of Interest on TransCanada Pipeline Limited 8.75% Junior Subordinated Debentures due July 24, 2045 Funds disbursed to Holders of TransCanada Capital Cumulative Trust Originated Preferred Securities and Common Stock $3,500,196.88 $3,500,196.88

Dated: ~~November~~July 925, ~~2001~~2002

By:   THE BANK OF NEW YORK
         as Administrative Trustee

By: /s/ Vanessa Mack
      Vanessa Mack
      Assistant Vice President

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

EXHIBIT INDEX

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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