Summary
CSX Corporation (CSX) announced on February 23, 2012, the public offering of $300 million in aggregate principal amount of 4.40% Notes due 2043. This offering was conducted through an Underwriting Agreement with J.P. Morgan Securities LLC and UBS Securities LLC as representatives for the underwriters. The Notes were issued under the company's existing indenture, first established in 1990, and supplemented multiple times since then. The issuance was registered under the Securities Act of 1933, with a prospectus and prospectus supplement filed with the SEC on February 24, 2012. This filing is primarily informative, detailing the terms of a new debt issuance. Investors should note that this action represents an increase in CSX's long-term debt. The company's ability to service this new debt will be crucial, and its financial health will be reflected in its ongoing financial reports. The specific use of proceeds from this offering is not detailed in this particular 8-K filing, which focuses on the execution of the debt agreement itself.
Key Highlights
- 1CSX Corporation entered into an Underwriting Agreement on February 23, 2012, for a public offering.
- 2The offering was for $300,000,000 in aggregate principal amount of 4.40% Notes due 2043.
- 3J.P. Morgan Securities LLC and UBS Securities LLC acted as representatives for the underwriters.
- 4The Notes were issued under an existing indenture, with various supplemental indentures in place.
- 5The offering was registered under the Securities Act of 1933.
- 6A prospectus dated February 19, 2010, and a prospectus supplement dated February 23, 2012, were filed with the SEC.
- 7This filing establishes a new direct financial obligation for CSX Corporation.