Kansas City Southern Railway Sells $200 Million Debt Securities.Business Editors KANSAS CITY, Mo.--(BUSINESS WIRE)--Sept. 27, 2000 Kansas City Southern Industries Kansas City Southern Industries (NYSE: KSU) is the former diversified parent company of the Kansas City Southern Railway, a Class I railroad headquartered in the Quality Hill neighborhood of Kansas City, Missouri, USA. , Inc. ("KCSI" or "Company") (NYSE NYSE See: New York Stock Exchange :KSU) today announced the completion of a previously announced $200 million debt securities offering, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , The Kansas City Southern Railway The Kansas City Southern Railway (AAR reporting marks KCS) is a United States-based Class I railroad operating over 3,130 track miles in 12 central and southeastern states. Founded in 1887, the railroad provides the shortest route from Kansas City to the Gulf of Mexico. Company ("KCSR"). The offering, completed pursuant to Rule 144A under the Securities Act of 1933 in the United States and Regulation S outside the United States, consisted of 8-year Senior Unsecured Notes due 2008. The Notes bear an interest rate of 9.5%. Net proceeds from the offering of $196.5 million were used to refinance existing bank term debt, which was scheduled to mature in January, 2001. The Notes have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. |
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