Canadian National Railway announces two-tranche debt offering of US$700M, comprised of US$300M 1.45% notes due 2016, US$400M 2.85% notes due 2021; company expects to close offering Nov. 15

Alison Gallant

Alison Gallant

MONTREAL , November 7, 2011 (press release) – CN (TSX:CNR.to - News) (NYSE:CNI - News) today announced a public two-tranche debt offering of US$700 million, comprised of US$300 million 1.45% Notes due 2016, and US$400 million 2.85% Notes due 2021. CN expects to close the offering on Nov. 15, 2011.

CN plans to use the net proceeds from the offering to repay all of its outstanding commercial paper and for general corporate purposes, including the partial financing of its share repurchase program.

The debt offering is being made in the United States under the shelf registration statement CN filed on Nov. 4, 2011. Book-running managers of the debt offering are Citigroup Global Markets Inc. and J.P. Morgan Securities LLC. Other managers are Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, BMO Capital Markets Corp., BNP Paribas Securities Corp., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC.

A copy of the prospectus supplement and the accompanying prospectus for the offering may be obtained by contacting Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, N.Y., 11220, toll free: 1-877-858-5407; or J.P. Morgan Securities LLC, 383 Madison Avenue, New York, N.Y., 10179, collect: 1-212-834-4533.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.