Summary
CSX Corporation has announced a significant financing activity through the issuance of $300 million in aggregate principal amount of 5.050% Notes due 2035. These notes constitute a further issuance and will be fungible with the previously issued $600 million of the same series of notes from March 2025, effectively increasing the total outstanding principal of this note series to $900 million. The offering is being conducted under the company's existing shelf registration statement and has entered into an Underwriting Agreement with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and UBS Securities LLC as representatives for the underwriters. This move indicates CSX's strategy to access capital markets for its funding needs. Investors should note that the additional debt issuance will increase leverage, although the coupon rate of 5.050% appears to be consistent with the initial offering, suggesting favorable market conditions or a stable cost of capital for this debt. The closing of the offering is anticipated for October 23, 2025, subject to standard closing conditions.
Key Highlights
- 1CSX Corporation is issuing an additional $300 million in 5.050% Notes due 2035.
- 2These new notes will be fungible with the existing $600 million of 5.050% Notes due 2035, increasing the total outstanding principal for this series to $900 million.
- 3The offering is being managed by a syndicate of underwriters including Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and UBS Securities LLC.
- 4The issuance is conducted under a pre-existing shelf registration statement filed with the SEC.
- 5The company entered into a material definitive agreement (Underwriting Agreement) on October 20, 2025.
- 6The offering is expected to close on October 23, 2025, subject to customary closing conditions.
- 7The filing includes the Underwriting Agreement as an exhibit.