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This article was published 18/2/2009 (3895 days ago), so information in it may no longer be current.
MONTREAL - Canadian National Railway Co. (TSX:CNR) announced a plan Wednesday to issue US$550 million in 5.55 per cent notes that will be used to repay other debt.
The notes will be due in 2019. CN said it plans to use the estimated net proceeds of US$540 million to repay a portion of its outstanding commercial paper and to reduce its account receivables securitization program.
Book-running managers of the debt offering are Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.