Calgary Alberta - Canadian Pacific Railway Limited (CP) announces that its wholly-owned subsidiary, Canadian Pacific Railway Company, is issuing $400 million of 3.15 percent Notes due 2029, which will be guaranteed by CP.
 
This offering represents CP's successful return to the Canadian debt capital markets and its first Canadian public debt offering since 2011.
 
The transaction is expected to close on 13 Mar 2019 subject to the satisfaction of customary closing conditions.
 
The net proceeds from this offering will be used primarily for the refinancing of outstanding indebtedness and for general corporate purposes.
 
The joint book-runners for the debt offering are BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., and Scotia Capital Inc.
 
The offering is being made in Canada under CP's base shelf prospectus dated 1 Mar 2019 as supplemented on 11 Mar 2019.
 
The securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons.
 
Author unknown.