Summary
Canadian Pacific Kansas City Ltd./CN (CP) has filed an 8-K report detailing the completion of a significant debt offering. The company successfully issued U.S.$600 million in 4.000% notes due 2029 and U.S.$600 million in 5.500% notes due 2056, totaling U.S.$1.2 billion. These notes are guaranteed by the parent company, Canadian Pacific Kansas City Limited. This offering, registered under the Securities Act of 1933, was executed through an Underwriting Agreement with several prominent financial institutions.
Key Highlights
- 1Completion of a U.S.$1.2 billion aggregate principal amount debt offering.
- 2Issued U.S.$600 million of 4.000% notes due 2029.
- 3Issued U.S.$600 million of 5.500% notes due 2056.
- 4Guaranteed by parent company Canadian Pacific Kansas City Limited.
- 5Underwriting agreement entered into with Goldman Sachs & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and SMBC Nikko Securities America, Inc.
- 6Offering registered under the Securities Act of 1933.
- 7Debt issuance finalized through an Eighth Supplemental Indenture.
Frequently Asked Questions
This 8-K filing primarily announces the completion of Canadian Pacific Railway Company's offering of U.S.$1.2 billion in aggregate principal amount of notes and details the material definitive agreements entered into as part of this offering.
The company has incurred two new financial obligations: U.S.$600 million in 4.000% notes due 2029 and U.S.$600 million in 5.500% notes due 2056. Both are guaranteed by Canadian Pacific Kansas City Limited.
The underwriters for this offering, acting as representatives of the several underwriters, included Goldman Sachs & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and SMBC Nikko Securities America, Inc.
The Eighth Supplemental Indenture is a crucial document that governs the terms of the newly issued 2029 Notes and 2056 Notes, executed by Canadian Pacific Railway Company, the Guarantor, and the Trustee (Computershare Trust Company N.A.).