CN refinances US$1-billion revolving credit facility.MONTREAL -- CN announced today it has successfully refinanced, by way of amendment, its US$1-billion revolving credit facility for a five-year period with an international banking syndicate led by BMO Nesbitt Burns  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Inc. The credit facility is available for working capital and general corporate purposes at CN, including back-stopping the company's commercial paper program. It contains customary terms and conditions and extends to March 2010 the current credit facility, which was scheduled to expire in December 2005. Claude Mongeau, CN's executive vice-president and chief financial officer, said: "I am very pleased with this highly successful transaction and the strong demand from the banking community. Our existing banking syndicate, with the addition of new banks, has affirmed its confidence in CN's solid financial performance. We appreciate the banks' support." Canadian National Railway Company Canadian National Railway Company (NYSE: CNI, TSX: CNR) is a Canadian rail transportation company that operates the Canadian National Railway. It was created in December, 1918 as a Crown corporation of the Government of Canada to nationalize several bankrupt rail systems spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key cities of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, St. Louis, and Jackson, Miss., with connections to all points in North America. www.cn.ca Canadian National Railway Company (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CNR) (NYSE NYSE See: New York Stock Exchange :CNI) |
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