Canadian Pacific Announces Pricing of US Debt Offering
12 Maggio 2009 - 10:03PM
PR Newswire (US)
CALGARY, May 12 /PRNewswire-FirstCall/ -- Canadian Pacific Railway
Limited (TSX/NYSE: CP) announced today that its wholly-owned
subsidiary, Canadian Pacific Railway Company, has entered into an
underwriting agreement providing for the issuance of US$350 million
of 7.25% Notes due May 15, 2019. The transaction is expected to
close May 15, 2009. CP intends to use the net proceeds from the
offering to partially finance the repurchase of certain of its
outstanding US dollar denominated long-term debt securities
pursuant to a tender offer announced today. The balance, if any,
will be used for general corporate purposes. This offering is
consistent with CP's objective to enhance its capital structure and
improve its debt maturity profile. This announcement shall not
constitute an offer to sell or a solicitation of an offer to buy
the Senior Notes due May 15, 2019. The offering is being made under
an effective shelf registration statement. A copy of the
preliminary prospectus supplement and related base prospectus may
be obtained from the SEC's website at http://www.sec.gov/.
Alternatively, copies will be provided upon written request to:
Office of the Corporate Secretary Canadian Pacific Suite 500 401 -
9th Avenue SW Calgary, AB T2P 4Z4 About Canadian Pacific Canadian
Pacific, through the ingenuity of its employees located across
Canada and in the United States, intends to be the safest, 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. 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 Contact: Leslie Pidcock, Canadian Pacific,
Tel.: (403) 319-6878, e-mail: ; Investment Community: Janet Weiss,
Canadian Pacific, Tel.: (403) 319-3591, e-mail:
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