Summary
Norfolk Southern Corporation (NSC) filed an 8-K on July 5, 2001, to report a significant debt issuance. The company successfully sold $250 million in aggregate principal amount of Floating Rate Senior Notes due July 7, 2003. This transaction was executed under an Underwriting Agreement with Merrill Lynch & Co. acting as the underwriter. The issuance of these notes, governed by a series of indentures with U.S. Trust Bank National Association as trustee, represents a capital raising activity for Norfolk Southern. Investors should note the floating rate nature of these notes, meaning their interest payments will adjust based on prevailing market rates. This filing primarily serves to disclose the details of this debt financing.
Key Highlights
- 1Norfolk Southern Corporation issued $250 million in Floating Rate Senior Notes due July 7, 2003.
- 2The debt issuance occurred on July 5, 2001.
- 3Merrill Lynch & Co. acted as the underwriter for this debt offering.
- 4The notes are governed by an Indenture dated January 15, 1991, with multiple supplemental indentures.
- 5The filing details the Underwriting Agreement and related pricing and indenture documents as exhibits.
- 6The 'Other Events' section is the primary focus of this 8-K filing.
Frequently Asked Questions
The primary purpose of this 8-K filing was to report the issuance and sale of $250 million of Floating Rate Senior Notes due July 7, 2003, by Norfolk Southern Corporation.
The notes have a maturity date of July 7, 2003. They are described as 'Floating Rate Senior Notes,' indicating that their interest rate will fluctuate based on market conditions rather than being fixed.
Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, acted as the underwriter for this debt offering.
Key documents include the Underwriting Agreement (Base and Pricing Agreements), dated June 29, 2001, and the Fifth Supplemental Indenture, dated July 5, 2001, which supplements the original Indenture dated January 15, 1991.