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

Reports
Material Agreements·Exhibits & Filings
Filing Date
Filed September 17, 2024
Period End
September 16, 2024
Security
CSX
In the record · 2016–202610-K1110-Q328-K137

CSX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 137 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Feb ’18Feb ’18
  2. Leadership change8-K · Jul ’20Jul ’20
  3. Material agreement8-K · Jul ’22Jul ’22
  4. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed September 17, 2024. Cited figures are marked; the original filing is the authoritative source.

CSX Corporation (CSX) has announced the public offering of $550 milliona 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%b.

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.

02—Key points

Key Highlights

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

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 8-K filing?

    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.

  2. What are the terms of the new debt 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.

  3. When will this debt offering close?

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

  4. Where will the proceeds from this offering be used?

    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.

04—Continue

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