(The Associated Press circulated the following on April 4.)
NEW YORK — Railroad operator Norfolk Southern (NYSE:NSC) Corp. said it has agreed to sell $600 million in 5.75 percent senior notes due 2018, according to a filing Friday with the Securities and Exchange Commission.
The agreement is with Merrill Lynch, Pierce, Fenner & Smith Inc.; Barclays Capital Inc.; and Deutsche Bank Securities Inc.
The railroad expects net proceeds of $594 million from the offering, which it plans to use for general corporate purposes.
Shares rose 36 cents to $57.22 in afternoon trading.