Summary
CSX Corporation (CSX) has filed an 8-K report detailing its entry into a material definitive agreement for a public offering of debt securities. The company issued $350 million in 4.250% Notes due 2029 and $650 million in 4.750% Notes due 2048, totaling $1 billion in aggregate principal amount. These notes were issued under an existing indenture and were registered under the Securities Act of 1933. This offering represents a significant financing event for CSX, allowing it to raise substantial capital through the issuance of long-term debt. Investors in these notes are purchasing a fixed-income security with specific coupon rates and maturity dates, providing a yield in exchange for lending to the company. The details of the underwriting agreement and the forms of the notes are publicly available as exhibits to this filing.
Key Highlights
- 1CSX Corporation entered into an Underwriting Agreement on November 7, 2018, for a public offering of debt.
- 2The company issued $350,000,000 aggregate principal amount of 4.250% Notes due 2029.
- 3The company also issued $650,000,000 aggregate principal amount of 4.750% Notes due 2048.
- 4The total aggregate principal amount of notes issued is $1,000,000,000.
- 5The notes were issued under an existing Indenture, supplemented by various agreements over time.
- 6The offering was conducted by Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and UBS Securities LLC as Underwriters.
- 7The notes are registered under the Securities Act of 1933.