CN announces US$900-million debt offering
02 Febbraio 2018 - 12:50AM
CN (TSX:CNR) (NYSE:CNI) today announced a public two-tranche debt
offering of US$900 million, comprised of US$300 million 2.400%
Notes due 2020, and US$600 million 3.650% Notes due 2048. CN
expects to close the offering on Feb. 6, 2018, subject to customary
closing conditions.
CN plans to use the net proceeds from the
offering for general corporate purposes, including the redemption
and refinancing of outstanding indebtedness, and share
repurchases.
The debt offering is being made in the United
States under an effective shelf registration statement CN filed on
Jan. 5, 2016. The joint book-running managers of the debt
offering are: Citigroup Global Markets Inc., Merrill Lynch, Pierce,
Fenner & Smith Incorporated and RBC Capital Markets, LLC. The
senior co-managers of the debt offering are BNP Paribas Securities
Corp. and Wells Fargo Securities, LLC. The co-managers of the debt
offering are BMO Capital Markets Corp., HSBC Securities (USA) Inc.,
MUFG Securities Americas Inc., Scotia Capital (USA) Inc., SMBC
Nikko Securities America Inc., TD Securities (USA) LLC and US
Bancorp Investments, Inc.
A copy of the prospectus supplement and the
accompanying prospectus for the offering may be obtained by
contacting: Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department, toll free: 1-800-831-9146,
email: prospectus@citi.com; Merrill Lynch, Pierce, Fenner
& Smith Incorporated, 200 North College Street, NC1-004-03-43,
Charlotte, NC 28255, Attention: Prospectus Department,
toll-free: 1-800-294-1322, email: dg.prospectus_requests@baml.com;
or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York,
NY 10281, Attention: Transaction Management, toll-free: (866)
375-6829, email: rbcnyfixedincomeprospectus@rbccm.com.
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
will there be any sale of these securities, in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
Forward-Looking StatementsCertain statements
included in this news release constitute “forward-looking
statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and under Canadian
securities laws, including statements relating to potential debt
refinancing as well as with respect to the timing and completion of
the proposed debt offering, which is subject to customary
termination rights and closing conditions. By their nature,
forward-looking statements involve risks, uncertainties and
assumptions. The Company cautions that its assumptions may not
materialize and that current economic conditions render such
assumptions, although reasonable at the time they were made,
subject to greater uncertainty. Forward-looking statements may be
identified by the use of terminology such as “believes,” “expects,”
“anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other
similar words.
Forward-looking statements are not guarantees of
future performance and involve known and unknown risks,
uncertainties and other factors which may cause the actual results
or performance of the Company to be materially different from the
outlook or any future results or performance implied by such
statements. Accordingly, readers are advised not to place undue
reliance on forward-looking statements. Important risk factors that
could affect the forward-looking statements include, but are not
limited to, the effects of general economic and business
conditions; industry competition; inflation, currency and interest
rate fluctuations; changes in fuel prices; legislative and/or
regulatory developments; compliance with environmental laws and
regulations; actions by regulators; increases in maintenance and
operating costs; security threats; reliance on technology and
related cybersecurity risk; trade restrictions or other changes to
international trade arrangements; transportation of hazardous
materials; various events which could disrupt operations, including
natural events such as severe weather, droughts, fires, floods and
earthquakes; climate change; labor negotiations and disruptions;
environmental claims; uncertainties of investigations, proceedings
or other types of claims and litigation; risks and liabilities
arising from derailments; timing and completion of capital
programs; and other risks detailed from time to time in reports
filed by CN with securities regulators in Canada and the United
States. Reference should be made to Management’s Discussion and
Analysis in CN’s annual and interim reports, Annual Information
Form and Form 40-F, filed with Canadian and U.S. securities
regulators and available on CN’s website, for a description of
major risk factors.
Forward-looking statements reflect information
as of the date on which they are made. CN assumes no obligation to
update or revise forward-looking statements to reflect future
events, changes in circumstances, or changes in beliefs, unless
required by applicable securities laws. In the event CN does update
any forward-looking statement, no inference should be made that CN
will make additional updates with respect to that statement,
related matters, or any other forward-looking statement.
Contacts: |
|
Media |
Investment
Community |
Patrick Waldron |
Paul Butcher |
Senior
Manager |
Vice-President |
Media Relations |
Investor Relations |
(514) 399-8803 |
(514) 399-0052 |
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