(The Associated Press circulated the following on February 22, 2010.)
JACKSONVILLE, Fla. — Railroad operator CSX Corp. said Monday it launched private offers to exchange some of its outstanding debt for a combination of new debt and cash.
CSX is offering to eligible holders of its 7.45 percent notes due 2038, 7.95 percent debentures due 2027, 8.625 percent debentures due 2022, 8.1 percent debentures due 2022 and 7.9 percent debentures due 2017 the opportunity to exchange their notes for new notes and cash.
Eligible holders of each series who tender their notes before 5 p.m. New York City time on March 5 will receive an additional early exchange premium.
The exchange offers will expire at 11:59 p.m., New York City time, on March 19.
Shares fell 4 cents to $46.73 in morning trading.