Canadian Pacific announces $375 million debt offering
24 Maggio 2008 - 12:05AM
PR Newswire (US)
CALGARY, May 23 /PRNewswire-FirstCall/ -- Canadian Pacific Railway
Limited (TSX/NYSE: CP) announced today that its wholly-owned
subsidiary, Canadian Pacific Railway Company, is issuing $375
million of 6.25% Notes due June 1, 2018. The transaction is
expected to close May 28, 2008. The net proceeds from this offering
of approximately $371 million will be used to repay a portion of
the indebtedness outstanding under the 18-month term credit
facility used to fund the acquisition of the Dakota, Minnesota
& Eastern Railroad in October 2007. The debt offering is being
made in Canada under a previously filed base shelf prospectus dated
June 1, 2007. Canadian Pacific, through the ingenuity of its
employees located across Canada and in the United States, remains
committed to being the safest, and most fluid railway in North
America. Our people are the key to delivering innovative
transportation solutions to our customers and to ensuring the safe
operation of our trains through the more than 900 communities where
we operate. Our combined ingenuity makes CP a better place to work,
rail a better way to ship, and North America a better place to
live. Come and visit us at http://www.cpr.ca/ to see how we can put
our ingenuity to work for you. Canadian Pacific is proud to be the
official rail freight services provider for the Vancouver 2010
Olympic and Paralympic Winter Games. DATASOURCE: Canadian Pacific
Railway CONTACT: Media: Leslie Pidcock, Manager, Corporate
Communications, Tel.: (403) 319-6878, e-mail: ; Investment
Community: Janet Weiss, Assistant Vice-President Investor
Relations, Tel.: (403) 319-3591, e-mail:
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