By Mary-Katherine Stinson
Lexington, Ky., May 1 – Canadian National Railway Co. sold C$1.25 billion of fixed-rate notes in two parts, according to a 6-K filing with the Securities and Exchange Commission.
The company sold a C$700 million tranche of 4.6% notes due 2029 and a second tranche of C$550 million of 5.1% notes due 2054.
The offer is expected to settle on May 2.
Proceeds will be used for general corporate purposes, potentially including the redemption and refinancing of outstanding debt, share repurchases, acquisitions and other business opportunities.
The debt offering is being made in Canada under the railway company’s base shelf prospectus dated April 2.
The railroad company is based in Montreal.
| Issuer: | Canadian National Railway Co.
|
| Amount: | C$1.25 billion
|
| Issue: | Notes
|
| Announcement date: | April 30
|
| Settlement date: | May 2
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| Distribution: | Canada
|
|
|
| 2029 notes
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| Amount: | C$700 million
|
| Maturity: | 2029
|
| Coupon: | 4.6%
|
|
|
| 2054 notes
|
| Amount: | C$550 million
|
| Maturity: | 2054
|
| Coupon: | 5.1%
|
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