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CANADIAN PACIFIC KANSAS CITY LTD/CN 8-K Report, Material Agreement (May 16, 2018)

Reports
Material Agreements·Financial Events·Exhibits & Filings
Filing Date
Filed May 16, 2018
Period End
May 14, 2018
Security
CP
In the record · 2016–202610-K2010-Q328-K361

CP filed 20 annual reports (10-K), 32 quarterly reports (10-Q) and 361 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’17Jun ’17
  2. Material agreement8-K · Oct ’19Oct ’19
  3. Leadership change8-K · Feb ’22Feb ’22
  4. Leadership change8-K · Jul ’26Jul ’26

01—Abstract

Summary

Summary of the 8-K filed May 16, 2018. Cited figures are marked; the original filing is the authoritative source.

Canadian Pacific Kansas City Ltd./CN (CP) filed an 8-K on May 16, 2018, to report a material definitive agreement related to a debt offering.

Specifically, Canadian Pacific Railway Company (the "Company"), a subsidiary, completed the issuance of U.S.$500,000,000a aggregate principal amount of 4.000% senior notes due 2028. These notes are guaranteed by the parent company, Canadian Pacific Railway Limited. The offering was facilitated by an Underwriting Agreement entered into on May 14, 2018, with Morgan Stanley & Co. LLC, Barclays Capital Inc., and Wells Fargo Securities, LLC, acting as representatives for the underwriters.

The terms of the senior notes are governed by an Indenture, further supplemented by a Third Supplemental Indenture dated May 16, 2018. This filing is primarily informational, detailing the successful completion of this financing activity.

02—Key points

Key Highlights

  1. Completion of a U.S.$500 million offering of 4.000% senior notes due 2028 by Canadian Pacific Railway Company.
  2. The senior notes are guaranteed by the parent company, Canadian Pacific Railway Limited.
  3. The offering was executed under an Underwriting Agreement dated May 14, 2018.
  4. Key underwriters included Morgan Stanley & Co. LLC, Barclays Capital Inc., and Wells Fargo Securities, LLC.
  5. The notes are governed by an Indenture dated September 11, 2015, with a Third Supplemental Indenture executed on May 16, 2018.
  6. This filing confirms a significant debt financing event for the Company.
  7. The debt offering was registered under the Securities Act of 1933 via a previously filed registration statement.

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 8-K filing?

    This 8-K filing serves to report the completion of a material definitive agreement, specifically the issuance of U.S.$500 million in senior notes by Canadian Pacific Railway Company, guaranteed by its parent, Canadian Pacific Railway Limited.

  2. What are the key terms of the newly issued senior notes?

    The senior notes have an aggregate principal amount of U.S.$500,000,000, carry a fixed interest rate of 4.000%, and mature in 2028. They are guaranteed by Canadian Pacific Railway Limited.

  3. Who were the underwriters for this debt offering?

    The underwriters for this offering were represented by Morgan Stanley & Co. LLC, Barclays Capital Inc., and Wells Fargo Securities, LLC.

  4. How does this debt issuance impact Canadian Pacific Kansas City Ltd./CN?

    This filing indicates that the company successfully raised U.S.$500 million in new debt financing, which could be used for various corporate purposes such as general corporate operations, capital expenditures, or refinancing existing debt. The specific use of proceeds is not detailed in this particular 8-K.

04—Continue

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