(The Associated Press circulated the following article on February 18.)
NEW YORK– Canadian National Railway Co. said Wednesday it has launched a public debt offering of $550 million in 5.55 percent notes due 2019.
The railroad operator expects to close the financing Feb. 25. With the anticipated $540 million in proceeds, it plans to repay a portion of its other debts, including the financing of its recent acquisition of the Elgin, Joliet & Eastern Railway Co.
U.S.-traded shares of Canadian National Railway fell 9 cents to close at $33.40.