Summary
CSX Corporation (CSX) filed an 8-K on October 22, 2013, reporting the entry into a material definitive agreement for the public offering of $500,000,000 in aggregate principal amount of 3.700% Notes due 2023. This offering, facilitated by an Underwriting Agreement with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC, provides CSX with additional capital through long-term debt issuance. The notes were issued under an existing indenture framework, with the offering registered under the Securities Act of 1933. The filing details the agreement and related documents, including the form of the notes, legal opinions, and the computation of the company's ratio of earnings to fixed charges. This move signifies CSX's strategy to finance its operations and potentially future growth initiatives through the debt markets.
Key Highlights
- 1CSX Corporation entered into an Underwriting Agreement for a public offering of $500 million in 3.700% Notes due 2023.
- 2The offering aims to raise capital through the issuance of senior unsecured debt.
- 3The Notes were issued under CSX's existing indenture, indicating a structured approach to debt management.
- 4The offering was registered under the Securities Act of 1933, with a prospectus and prospectus supplement filed with the SEC.
- 5Key underwriters include Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC.
- 6The filing includes exhibits such as the Underwriting Agreement, forms of the notes, legal opinions, and a computation of the ratio of earnings to fixed charges.