JOC Staff | Nov 09, 2012 4:20PM EST
Canadian National Railway recently announced a $500 million debt offering, expected to close on Nov. 20, comprised of $250 million 2.25 percent notes due in 2022 and $250 million 3.50 percent notes due in 2042.
The North American railroad plans to use the net proceeds from the offering for general corporate purposes, including the redemption and refinancing of outstanding indebtedness.
The debt offering is being made in the U.S. under an effective shelf registration statement that CN filed on Nov. 4.
The joint book-running managers of the debt offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets and Wells Fargo Securities; and the co-managers are J.P. Morgan, BNP Paribas, BMO Capital Markets, Citigroup, Scotiabank, TD Securities and U.S. Bancorp.
