Canadian National Announces US$600 Million Debt Offering.Business Editors MONTREAL--(BUSINESS WIRE)--Sept. 19, 2001 Canadian National (NYSE NYSE See: New York Stock Exchange :CNI (1) (Certified NetWare Instructor) See Novell certification. (2) (Coalition for Networked Information, Washington, DC, www.cni.org) A partnership of the Association of Research Libraries, CAUSE and EDUCOM, founded in 1990. ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CNR.) announced today the terms of a US$600 million debt offering. CN will use the proceeds to finance a portion of the cost of its acquisition of Wisconsin Central Transportation Corporation (WC). The debt will be issued in two series, US$400 million 6.375% Notes due 2011, and US$200 million 7.375% Debentures due 2031. CN expects to close the financing on Sept. 26, 2001. CN received final regulatory approval for the WC acquisition on Sept. 7, 2001, and expects its merger with WC to be completed on or about October 9. Immediately after the merger, CN will commence a step-by-step integration of the two companies' North American rail operations. The financing is made in the United States under CN's previously filed shelf registration statement for up to US$1 billion of debt securities. Lead managers of the debt offering are Merrill Lynch & Co. and Salomon Smith Barney. Other managers are 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 . , JPMorgan, Banc of America Securities LLC, Banc One Capital Markets, Inc., and Fleet Securities, Inc. 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, Memphis, St. Louis, Jackson, Miss., with connections to all points in North America. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion