Summary
CSX Corporation filed an 8-K report on October 20, 2015, to disclose the entry into a material definitive agreement related to a public offering of debt. Specifically, the company entered into an Underwriting Agreement for the issuance of $600 million in 3.350% Notes due 2025. This offering was conducted under a previously effective registration statement and involved established underwriters.
Key Highlights
- 1CSX Corporation entered into an Underwriting Agreement on October 15, 2015.
- 2The agreement is for a public offering of $600,000,000 aggregate principal amount of 3.350% Notes due 2025.
- 3The Notes were issued pursuant to an existing indenture and an Action of Authorized Pricing Officers.
- 4The offering is registered under the Securities Act of 1933.
- 5A prospectus supplement related to the offering was filed on October 16, 2015.
- 6Key underwriters include Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC.
Frequently Asked Questions
The main purpose of this 8-K filing is to report CSX Corporation's entry into a material definitive agreement, specifically an Underwriting Agreement for the issuance of $600 million in new debt (3.350% Notes due 2025).
The company is issuing $600,000,000 in aggregate principal amount of Notes, with a coupon rate of 3.350%.
The newly issued notes mature in 2025.
The notes are being issued pursuant to an existing indenture dated August 1, 1990, as supplemented over time, indicating it is an issuance under an established debt program rather than entirely new debt structure.