Summary
CSX Corporation (CSX) filed an 8-K on February 27, 2019, to report the execution of an Underwriting Agreement for a public offering of debt securities. The company is issuing $600 million in 4.250% Notes due 2029 and $400 million in 4.500% Notes due 2049. This offering aims to raise a total of $1 billion in long-term debt. The issuance is part of CSX's ongoing capital management strategy and is intended to support its operational and strategic initiatives. Investors should note that these new notes are being issued under existing indenture agreements, with the 2049 Notes specifically utilizing a recently executed Ninth Supplemental Indenture. The registration statement for these securities became effective on February 12, 2019, prior to the underwriting agreement and prospectus filing. This event primarily concerns CSX's capital structure and funding activities, providing no new operational or financial performance data, but rather detailing a significant debt financing transaction.
Key Highlights
- 1CSX Corporation entered into an Underwriting Agreement on February 21, 2019, to issue new debt.
- 2The offering includes $600 million of 4.250% Notes due 2029 and $400 million of 4.500% Notes due 2049.
- 3The total aggregate principal amount of the offering is $1 billion.
- 4The 2029 Reopening Notes are issued under the Original Indenture, supplemented by multiple indentures.
- 5The 2049 Notes are issued under the Original Indenture, as amended by a Ninth Supplemental Indenture dated February 12, 2019.
- 6The offering's registration statement on Form S-3ASR became effective on February 12, 2019.
- 7This filing details a material definitive agreement related to the issuance of long-term debt.