Calgary Alberta - Canadian Pacific Railway Limited (CP) announces that its wholly-owned subsidiary, Canadian Pacific Railway Company, is issuing US$500 million of 2.050 percent Notes due 2030.
 
The transaction is expected to close on 5 Mar 2020 subject to the satisfaction of customary closing conditions.
 
The net proceeds from this offering will be used primarily for the reduction and refinancing of outstanding indebtedness and for general corporate purposes.
 
Until utilized for such purposes, the net proceeds may be invested in short term investment grade securities or bank deposits.
 
The joint book-running managers of the debt offering are Barclays Capital Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, BofA Securities Inc., and Wells Fargo Securities, LLC.
 
The co-managers are BMO Capital Markets Corp., CIBC World Markets Corp., RBC Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., and Desjardins Securities Inc.
 
The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC).
 
Copies of these documents may be obtained without charge from the SEC at www.sec.gov.
 
Alternatively, you may request copies of the prospectus supplement and the accompanying prospectus for the offering by contacting Barclays Capital Inc., Attn: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146, HSBC Securities (USA) Inc., 452 Fifth Avenue, New York, New York, 10018, telephone: 1-866-811-8049, email: debtprospectus@us.hsbc.com and Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649.
 
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities, in Canada or in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
 
Under the terms of the offering, the underwriters have agreed not to offer or sell these securities in Canada or to any resident of Canada.
 
Author unknown.