Summary
Norfolk Southern Corporation (NSC) announced on November 21, 2013, the completion of its offering of $400 million in aggregate principal amount of 3.850% Senior Notes due 2024. This debt issuance was conducted under the company's existing Automatic Shelf Registration Statement. The notes will pay interest semi-annually at the stated rate and carry certain redemption provisions, allowing Norfolk Southern to redeem the notes at its option under specified conditions. This offering represents a capital markets activity to potentially fund operations, investments, or refinancing needs. Investors should note the coupon rate of 3.850% and the maturity date of 2024. The terms of the notes and the underwriting agreement are detailed in the filed exhibits, providing transparency on the transaction's structure and associated parties.
Key Highlights
- 1Completion of a $400 million offering of 3.850% Senior Notes due 2024.
- 2Debt issuance occurred on November 21, 2013.
- 3Notes sold under the company's Form S-3 Automatic Shelf Registration Statement.
- 4Interest rate on the notes is 3.850% per annum, paid semi-annually.
- 5Notes include provisions for redemption at the company's option.
- 6The offering was facilitated by an Underwriting Agreement with major financial institutions.
- 7The Indenture governing the notes was supplemented by a Fourth Supplemental Indenture.