01—Abstract
Summary
Summary of the 8-K filed March 13, 2019. Cited figures are marked; the original filing is the authoritative source.
Canadian Pacific Kansas City Ltd. (CP) has announced via a press release dated March 11, 2019, that its wholly owned subsidiary, Canadian Pacific Railway Company, is issuing C$400 milliona in notes.
These notes will mature in 2029 and carry a coupon rate of 3.15%b. The issuance is guaranteed by the parent company, Canadian Pacific Railway Limited.
02—Key points
Key Highlights
- Canadian Pacific Railway Company is issuing C$400 million in debt.
- The debt issuance consists of 3.15% Notes due 2029.
- The parent company, Canadian Pacific Railway Limited, is providing a guarantee for the notes.
- This is an "Other Events" filing (Item 8.01) and includes a press release as an exhibit (Item 9.01).
- The event date noted for the press release is March 11, 2019.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to report on the issuance of new debt by a subsidiary of Canadian Pacific Kansas City Ltd. and to attach the relevant press release as an exhibit.
How much debt is Canadian Pacific issuing, and what are the terms?
Canadian Pacific Railway Company is issuing C$400 million of notes with a 3.15% interest rate, maturing in 2029.
Who is responsible for repaying these notes?
The notes are issued by Canadian Pacific Railway Company, a wholly owned subsidiary, but they are guaranteed by the parent company, Canadian Pacific Railway Limited, meaning both entities have financial obligations related to the debt.
Is this filing related to a significant corporate event or financial performance update?
This filing is specifically about a debt issuance by a subsidiary, which is a common financing activity. It does not appear to relate to a major corporate event like a merger or a change in executive leadership, nor does it contain detailed financial performance data beyond the announcement of the debt.
04—Continue