Summary
Norfolk Southern Corporation (NSC) filed an 8-K on February 28, 2018, to report the completion of its offering of $500 million in 4.150% Senior Notes due in 2048. These notes were issued under an automatic shelf registration statement and were sold pursuant to an underwriting agreement. The issuance of these notes represents a new long-term debt obligation for the company, with a stated interest rate of 4.150% and semi-annual interest payments.
Key Highlights
- 1Completion of a $500 million offering of 4.150% Senior Notes due 2048.
- 2New debt issuance was made under an Automatic Shelf Registration Statement on Form S-3.
- 3The notes were issued pursuant to an Indenture dated February 28, 2018, with U.S. Bank National Association as trustee.
- 4Interest payments on the notes are semi-annual at a rate of 4.150% per annum.
- 5The company has the option to redeem the notes, with redemption prices varying based on the proximity to the maturity date.
- 6The filing includes the underwriting agreement and the indenture as exhibits, along with legal opinions regarding the validity of the notes.