Summary
CSX Corporation (CSX) filed an 8-K report on October 31, 2011, disclosing the public offering of $600 million in 4.750% Notes due 2042. This offering was made under a previously effective registration statement and aims to raise capital through the issuance of long-term debt. The company entered into an Underwriting Agreement with Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC as representatives for the underwriters. The issuance of these notes constitutes a direct financial obligation for CSX. Investors should note this is a debt financing activity, which could impact the company's leverage and financial structure.
Key Highlights
- 1CSX Corporation announced the public offering of $600,000,000 aggregate principal amount of 4.750% Notes due 2042.
- 2The offering was conducted under a Registration Statement on Form S-3ASR that became effective on February 19, 2010.
- 3An Underwriting Agreement was executed on October 27, 2011, with Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC acting as underwriters.
- 4The issuance of these notes represents a material definitive agreement and a direct financial obligation for CSX.
- 5The notes were issued pursuant to an existing indenture, supplemented by several supplemental indentures and an Action of Authorized Pricing Officers.
- 6The filing includes various exhibits such as the Underwriting Agreement, form of Notes, legal opinions, and computation of the ratio of earnings to fixed charges.