Summary
Norfolk Southern Corporation (NSC) filed an 8-K report on June 3, 2016, to announce the completion of a significant debt offering. The company successfully issued $600 million in aggregate principal amount of 2.900% Senior Notes due in 2026. This offering was conducted under the company's existing Automatic Shelf Registration Statement and was executed through an Underwriting Agreement with a syndicate of prominent financial institutions. The issuance of these notes represents a material definitive agreement and a direct financial obligation for Norfolk Southern. The notes carry a fixed interest rate of 2.900% per annum, payable semi-annually, and include provisions for redemption at the company's option. Investors should note that the terms and conditions of the notes, including redemption clauses, are detailed in the accompanying Indenture. The filing also includes relevant exhibits such as the Underwriting Agreement and the Third Supplemental Indenture.
Key Highlights
- 1Norfolk Southern Corporation completed an offering of $600 million in 2.900% Senior Notes due 2026.
- 2The notes were issued on or around June 3, 2016.
- 3The offering was made under an Automatic Shelf Registration Statement on Form S-3.
- 4The issuance constitutes a material definitive agreement and a direct financial obligation for the company.
- 5The notes bear a fixed semi-annual interest rate of 2.900% per annum.
- 6The notes are redeemable at the company's option, with specific redemption price conditions detailed in the indenture.
- 7The filing includes the Underwriting Agreement and the Third Supplemental Indenture as exhibits.