MONTREAL,
Oct. 29, 2013 /PRNewswire/ - CN (TSX:
CNR) (NYSE: CNI) today announced a public two-tranche debt offering
of US$600 million, comprised of
US$350 million Floating Rate Notes
due 2015, and US$250 million 4.50%
Notes due 2043. CN expects to close the offering on Nov. 7, 2013, subject to customary closing
conditions.
CN plans to use the net proceeds from the
offering for general corporate purposes, including the redemption
and refinancing of outstanding indebtedness.
The debt offering is being made in the
United States under an effective shelf registration
statement CN filed on Nov. 4, 2011.
The joint book-running managers of the debt offering are; Citigroup
Global Markets Inc.; J.P. Morgan Securities LLC; and Merrill Lynch,
Pierce, Fenner & Smith Incorporated. The co-managers of the
debt offering are BNP PARIBAS, HSBC, BMO Capital Markets, RBC
Capital Markets, Scotiabank, TD Securities, Wells Fargo Securities,
LLC, Desjardins Capital Markets, Mitsubishi UFJ Securities
(USA), Inc. and US Bancorp.
A copy of the prospectus supplement and the
accompanying prospectus for the offering may be obtained by
contacting Citigroup Global Markets Inc., Attention: Prospectus
Department, toll free: 1-800-831-9146, email:
batprospectusdept@citi.com; J.P. Morgan Securities LLC, Attention:
Investment Grade Syndicate Desk, collect call: 1-212-834-4533, or
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attention:
Prospectus Department, toll free: 1-800-294-1322, e-mail:
dg.prospectus_requests@baml.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
will there be any sale of these securities, in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
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, including with respect to the timing and
completion of the proposed debt offering, which is subject to
customary termination rights and closing conditions. 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.
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 risk factors.
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
matters, or any other forward-looking statement.
CN transports approximately C$250 billion worth of goods annually for a wide
range of business sectors, ranging from resource products to
manufactured products to consumer goods, across a rail network
spanning Canada and mid-America.
CN - Canadian National Railway Company, along with its operating
railway subsidiaries -- serves the cities and ports of Vancouver, Prince
Rupert, B.C., Montreal,
Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of
Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth,
Minn./Superior, Wis., and
Jackson, Miss., with connections
to all points in North
America.
SOURCE CN