CALGARY, June 19, 2014 /PRNewswire/ - Canadian Pacific
Railway Limited (TSX/NYSE: CP) today announced that its wholly
owned subsidiary, Canadian Pacific Railway Company, has terminated
its previously announced tender offers (collectively, the "Offers")
for its 7.125% Notes due 2031, 9.450% Notes due 2021, 5.950% Notes
due 2037 and 5.750% Notes due 2033 (collectively, the "Notes") in
accordance with its Offer to Purchase dated June 5, 2014.
None of the Notes were purchased in the Offers and all Notes
previously tendered and not withdrawn will be promptly credited,
without expense, to the proper accounts of the holders thereof
maintained at DTC.
This press release is for informational purposes only and is not
an offer to buy or the solicitation of an offer to sell with
respect to any securities.
Note on forward-looking information
This news release contains certain forward-looking information
within the meaning of applicable securities laws relating, but not
limited, to our operations, priorities and plans, anticipated
financial performance, purchases of common shares for cancellation
under CP's share repurchase program, future sources of capital,
business prospects, planned capital expenditures, programs and
strategies. This forward-looking information also includes, but is
not limited to, statements concerning expectations, beliefs, plans,
goals, objectives, assumptions and statements about possible future
events, conditions, and results of operations or performance.
Forward-looking information may contain statements with words or
headings such as "financial expectations", "key assumptions",
"anticipate", "believe", "expect", "plan", "will", "outlook",
"should" or similar words suggesting future outcomes.
Undue reliance should not be placed on forward-looking
information as actual results may differ materially from the
forward-looking information. Forward-looking information is not a
guarantee of future performance. By its nature, CP's
forward-looking information involves numerous assumptions, inherent
risks and uncertainties that could cause actual results to differ
materially from the forward-looking information, including but not
limited to the following factors: changes in business strategies;
general North American and global economic, credit and business
conditions; risks in agricultural production such as weather
conditions and insect populations; the availability and price of
energy commodities; the effects of competition and pricing
pressures; industry capacity; shifts in market demand; changes in
commodity prices; uncertainty surrounding timing and volumes of
commodities being shipped via CP; inflation; changes in laws and
regulations, including regulation of rates; changes in taxes and
tax rates; potential increases in maintenance and operating costs;
uncertainties of investigations, proceedings or other types of
claims and litigation; labour disputes; risks and liabilities
arising from derailments; transportation of dangerous goods; timing
of completion of capital and maintenance projects; currency and
interest rate fluctuations; effects of changes in market conditions
and discount rates on the financial position of pension plans and
investments; and various events that could disrupt operations,
including severe weather, droughts, floods, avalanches and
earthquakes as well as security threats and governmental response
to them, and technological changes. The foregoing list of factors
is not exhaustive.
These and other factors are detailed from time to time in
reports filed by CP with securities regulators in Canada and the
United States. Reference should be made to "Management's
Discussion and Analysis" in CP's annual and interim reports, Annual
Information Form and Form 40-F. Readers are cautioned not to place
undue reliance on forward-looking information.
Forward-looking information is based on current expectations,
estimates and projections and it is possible that predictions,
forecasts, projections, and other forms of forward-looking
information will not be achieved by CP. Except as required by law,
CP undertakes no obligation to update publicly or otherwise revise
any forward-looking information, whether as a result of new
information, future events or otherwise.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in
Canada and the United States with direct links to eight
major ports, including Vancouver
and Montreal, providing North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is a low-cost provider
that is growing with its customers, offering a suite of freight
transportation services, logistics solutions and supply chain
expertise. Visit www.cpr.ca to see the rail advantages of Canadian
Pacific.
SOURCE Canadian Pacific