(Source: Canadian Pacific Railway press release, January 28, 2015)
CALGARY, Alberta — Canadian Pacific Railway Limited announced that its wholly-owned subsidiary, Canadian Pacific Railway Company, is issuing US$700 million of 2.900% Notes due 2025. The transaction is expected to close on February 2, 2015, subject to customary closing conditions.
The offering is being made in the United States under the base shelf prospectus dated July 11, 2013 and the prospectus supplement dated January 28, 2015. The net proceeds from this offering will be used for general corporate purposes, including reducing short term indebtedness, which indebtedness was used to fund capital investments and share repurchases under our normal course issuer bid.
The joint book-running managers of the debt offering are Morgan Stanley, BofA Merrill Lynch, HSBC, J.P. Morgan, Citigroup, RBC Capital Markets and Wells Fargo Securities.