Summary
CSX Corporation has announced a significant debt offering, raising $500 million through the issuance of 3.800% Notes due 2050. This filing details the entry into an Underwriting Agreement with several major financial institutions, including Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and UBS Securities LLC, as representatives of the underwriters. The issuance is a material definitive agreement and represents a direct financial obligation for the company. This offering provides CSX with substantial capital, likely intended for general corporate purposes or to manage its existing debt structure. Investors should note the long-term nature of these notes, maturing in 30 years, and the specified coupon rate of 3.800%. The filing also lists various supporting documents and legal opinions, underscoring the formal process undertaken for this debt issuance. The notes are registered under the Securities Act of 1933, indicating compliance with regulatory requirements for public offerings.
Key Highlights
- 1CSX Corporation issued $500,000,000 aggregate principal amount of 3.800% Notes due 2050.
- 2The offering was made through an Underwriting Agreement with Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and UBS Securities LLC.
- 3The issuance constitutes a material definitive agreement and a direct financial obligation for CSX.
- 4The notes were issued pursuant to an existing indenture and a specific Action of Authorized Pricing Officers.
- 5The offering is registered under the Securities Act of 1933, with a Form S-3ASR registration statement.
- 6The filing includes various exhibits such as the Underwriting Agreement, form of notes, and legal opinions.