Calgary Alberta - Canadian Pacific Railway Limited (CP) announces that its wholly owned subsidiary, Canadian Pacific Railway Company, is issuing $300 million of 3.05 percent Notes due 2050, which will be guaranteed by Canadian Pacific Railway Limited.
 
The transaction is expected to close on 9 Mar 2020, 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 RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., and Scotia Capital Inc.
 
The offering is being made in Canada under Canadian Pacific Railway Company's base shelf prospectus dated 1 Mar 2019 as supplemented on 5 Mar 2020.
 
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.