MONTREAL,
Sept. 26, 2011 /PRNewswire/ - CN
(TSX: CNR) (NYSE: CNI) today announced that its wholly-owned
subsidiary, CNLX Canada Inc., is extending the period during which
holders who tender their notes will receive the consent payment of
US$2.50 per US$1,000 principal amount of notes (in addition
to principal amount and accrued and unpaid interest) to
11:59 p.m., New York City time, on Oct. 11, 2011. The settlement date remains
unchanged on or about Oct. 12, 2011.
Under the terms of the tender offer, holders who have tendered
their notes to date can no longer validly withdraw such notes.
None of the proposed amendments will affect the
terms of the Notes held by the non-tendering holders of the Notes.
Notes not tendered and purchased pursuant to the tender offer will
remain outstanding until paid by CN on the stated maturity date of
Oct. 15, 2011.
CNLX Canada Inc. has retained Citi to act as
Dealer Manager in connection with the tender offer and consent
solicitation. Questions about the tender offer and consent
solicitation may be directed to Citi at (800) 558-3745 (toll free).
Copies of the tender offer documents and other related documents
may be obtained from Global Bondholder Services Corporation, the
information agent for the tender offer and consent solicitation, at
(866) 470-4300 (toll free) or (212) 430-3774 (collect).
The tender offer and consent solicitation is
being made solely by means of the tender offer documents. Under no
circumstances shall this press release constitute an offer to
purchase or the solicitation of an offer to sell the Notes or any
other securities of CN or CNLX Canada Inc. It also is not a
solicitation of consents to the proposed amendments to the
indenture. No recommendation is made as to whether holders of the
Notes should tender their Notes or give their consent.
Forward-Looking Statements
Certain information included in this news release constitutes
"forward-looking statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and under Canadian securities laws.
CN cautions that, by their nature, these forward-looking statements
involve risks, uncertainties and assumptions. The Company cautions
that its assumptions may not materialize and that current economic
conditions render such assumptions, although reasonable at the time
they were made, subject to greater uncertainty. Such
forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties and other
factors which may cause the actual results or performance of the
Company or the rail industry to be materially different from the
outlook or any future results or performance implied by such
statements.
Important risk factors that could affect the
forward-looking statements include, but are not limited to, the
effects of general economic and business conditions, industry
competition, inflation, currency and interest rate fluctuations,
changes in fuel prices, legislative and/or regulatory developments,
compliance with environmental laws and regulations, actions by
regulators, various events which could disrupt operations,
including natural events such as severe weather, droughts, floods
and earthquakes, labor negotiations and disruptions, environmental
claims, uncertainties of investigations, proceedings or other types
of claims and litigation, risks and liabilities arising from
derailments, and other risks detailed from time to time in reports
filed by CN with securities regulators in Canada and the
United States. Reference should be made to "Management's
Discussion and Analysis" in CN's annual and interim reports, Annual
Information Form and Form 40-F filed with Canadian and U.S.
securities regulators, available on CN's website, for a summary of
major risks.
CN assumes no obligation to update or revise
forward-looking statements to reflect future events, changes in
circumstances, or changes in beliefs, unless required by applicable
Canadian securities laws. In the event CN does update any
forward-looking statement, no inference should be made that CN will
make additional updates with respect to that statement, related
maters, or any other forward-looking statement.
CN - Canadian National Railway Company and its
operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and
Pacific oceans to the Gulf of
Mexico, serving the ports of Vancouver, Prince
Rupert, B.C., Montreal,
Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas
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. For more information on CN, visit the company's
website at www.cn.ca.
SOURCE CN