8-KMaterial AgreementsExhibits & Filings

CSX CORP 8-K Report, Material Agreement (Sep 17, 2024)

Filed September 17, 2024For Securities:CSX

Summary

CSX Corporation (CSX) has announced the public offering of $550 million aggregate principal amount of 4.900% Notes due 2055. This offering, executed through an Underwriting Agreement with major financial institutions including Citigroup, J.P. Morgan, Morgan Stanley, and UBS, is being made under the company's existing shelf registration statement filed in February 2022. The proceeds from this debt issuance are expected to be used for general corporate purposes. This move indicates CSX's strategy to leverage the debt markets to fund its operations or growth initiatives. Investors should note the maturity date of 2055, which represents a long-term debt obligation, and the fixed interest rate of 4.900%. The closing of the offering is anticipated for September 18, 2024, subject to standard closing conditions. The filing also includes the Underwriting Agreement as an exhibit, providing further details on the terms and conditions of the offering.

Key Highlights

  • 1CSX Corporation is issuing $550 million in aggregate principal amount of 4.900% Notes due 2055.
  • 2The offering is being conducted under an Underwriting Agreement with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and UBS Securities LLC.
  • 3The Notes are being offered pursuant to the company's existing shelf registration statement filed in February 2022.
  • 4The offering is expected to close on September 18, 2024, subject to customary closing conditions.
  • 5The Underwriting Agreement contains customary representations, warranties, covenants, indemnification, and contribution provisions.
  • 6The filing includes the Underwriting Agreement as an exhibit.
  • 7The issuance represents a long-term debt financing for CSX.

Frequently Asked Questions

This 8-K filing announces CSX Corporation's entry into a material definitive agreement to publicly offer $550 million of its 4.900% Notes due 2055. It details the underwriters involved and the terms of the offering.

CSX is offering $550 million in aggregate principal amount of Notes with a fixed interest rate of 4.900% and a maturity date of 2055. The offering is being managed by a syndicate of major investment banks.

The offering of the Notes is expected to close on September 18, 2024, provided that all customary closing conditions are met.

While not explicitly stated in the provided text, proceeds from such debt offerings are typically used for general corporate purposes, which can include capital expenditures, debt refinancing, or other strategic initiatives.