8-KMaterial AgreementsFinancial EventsExhibits & Filings

CSX CORP 8-K Report, Material Agreement (May 24, 2011)

Filed May 24, 2011For Securities:CSX

Summary

CSX Corporation (CSX) has filed an 8-K report detailing the public offering of $600 million in aggregate principal amount of its Notes. This offering includes $350 million of 4.250% Notes due 2021 and $250 million of 5.500% Notes due 2041. The issuance was executed through an Underwriting Agreement with Credit Suisse Securities (USA) LLC and UBS Securities LLC, acting as representatives for the underwriters. This debt issuance is a significant event for the company, indicating a strategic move to manage its capital structure and potentially fund future operations or investments. Investors should note the specific interest rates and maturity dates of these new notes, as they will impact CSX's future interest expenses and debt repayment obligations. The filing also confirms that the notes are registered under the Securities Act of 1933 and that the relevant prospectus and supplement have been filed with the SEC.

Key Highlights

  • 1CSX Corporation entered into an Underwriting Agreement for a public offering of debt securities.
  • 2The offering consists of $350 million of 4.250% Notes due 2021.
  • 3The offering also includes $250 million of 5.500% Notes due 2041.
  • 4The total aggregate principal amount of the Notes being offered is $600 million.
  • 5Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as the representatives of the underwriters.
  • 6The Notes are being issued pursuant to an established indenture with The Bank of New York Mellon Trust Company, N.A. as trustee.
  • 7The offering is in compliance with the Securities Act of 1933, with a Registration Statement on Form S-3ASR previously declared effective.

Frequently Asked Questions

This 8-K filing reports on CSX Corporation's entry into a material definitive agreement for the public offering of $600 million in Notes. It provides details on the terms of the offering, including the principal amounts, interest rates, and maturity dates of the new debt securities.

CSX is issuing two series of notes: $350 million in 4.250% Notes due 2021 and $250 million in 5.500% Notes due 2041. The total principal amount of the offering is $600 million.

The Underwriting Agreement was made with Credit Suisse Securities (USA) LLC and UBS Securities LLC, who are acting as the representatives for the named underwriters in the offering.

This issuance adds $600 million in debt to CSX's balance sheet, increasing its total debt and future interest expense. Investors should review the specific coupon rates and maturity dates to understand the long-term impact on the company's financial structure and cash flow requirements.