(Reuters circulated the following article on May 17.)
NEW YORK — Railroad operator CSX Corp. on Tuesday commenced tender offers for up to $1 billion in aggregate principal amount on several notes.
The total principal amount outstanding of the notes included in the offers is about $3 billion.
“This transaction reduces the company’s debt by approximately $1 billion, further enhances CSX’s credit profile and reduces its borrowing costs,” Chief Financial Officer Oscar Munoz said in a statement.
CSX, based in Jacksonville, Florida, said each offer will expire at midnight EDT on June 14, unless extended.