Class Is Think Long-Term Intermodal Growth Despite Short-Term Turmoil
Introducing The Rising Stars Of 2025
2025 C&S Spending Report
BNSF Forms Team Focused On Growing Single Carloads
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry
Stay updated on news, articles and information for the rail industry
railPrime
RAIL EMPLOYMENT & NOTICES
Rail News Home
Financials
Rail News: Financials
5/27/2008
Rail News: Financials
CPR, KCS issue notes to help pay down debt
advertisement
Canadian Pacific Railway is issuing $375 million worth of 6.25 percent notes due June 1, 2018, to help repay a portion of debt incurred to acquire the Dakota, Minnesota & Eastern Railroad Corp. (DM&E).
Expected to close Wednesday, the transaction will net proceeds totaling about $371 million. The debt offering is being made in under a previously filed base shelf prospectus from June 2007.
Earlier this month, CPR issued $400 million worth of 5.75 percent notes due May 15, 2013, and $300 million worth of 6.5 percent notes due May 15, 2018, that generated about $693 million in net proceeds to help repay DM&E transaction-related debt.
Meanwhile, Kansas City Southern today announced its U.S. subsidiary The Kansas City Southern Railway Co. will offer $250 million in senior notes due 2015. The railroad will use net proceeds to repurchase $200 million aggregate principal amount of 9.5 percent senior notes due 2008 and reduce debt under a revolving credit facility.
Expected to close Wednesday, the transaction will net proceeds totaling about $371 million. The debt offering is being made in under a previously filed base shelf prospectus from June 2007.
Earlier this month, CPR issued $400 million worth of 5.75 percent notes due May 15, 2013, and $300 million worth of 6.5 percent notes due May 15, 2018, that generated about $693 million in net proceeds to help repay DM&E transaction-related debt.
Meanwhile, Kansas City Southern today announced its U.S. subsidiary The Kansas City Southern Railway Co. will offer $250 million in senior notes due 2015. The railroad will use net proceeds to repurchase $200 million aggregate principal amount of 9.5 percent senior notes due 2008 and reduce debt under a revolving credit facility.
