MONTREAL, Nov. 4, 2014 /CNW Telbec/ - CN (TSX: CNR) (NYSE:
CNI) today announced a public two-tranche debt offering of
US$600 million, comprised of
US$250 million Floating Rate Notes
due 2017, and US$350 million 2.95%
Notes due 2024. CN expects to close the offering on Nov. 14, 2014, 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, and share repurchases.
The debt offering is being made in the
United States under an effective shelf registration
statement CN filed on Dec. 3, 2013.
The joint book-running managers of the debt offering are: Citigroup
Global Markets Inc., RBC Capital Markets, LLC, and Wells Fargo
Securities, LLC. The co-managers of the debt offering are
HSBC, BMO Capital Markets, BNP PARIBAS, Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Mitsubishi UFJ Securities
(USA), Inc., Scotiabank, TD
Securities, 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., Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department, toll free: 1-800-831-9146, email:
prospectus@citi.com; RBC Capital Markets, LLC, Three World
Financial Center, 200 Vesey Street, New
York, NY 10281, Attention: Debt Capital Markets, toll free:
1-866-375-6829, email: usdebtcapitalmarkets@rbccm.com; or Wells
Fargo Securities, LLC, 608 2nd Avenue, South Minneapolis, MN 55402, Attention: WFS
Customer Service, toll free: 1-800-645-3751, email:
wfscustomerservice@wellsfargo.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 statements relating to potential debt
refinancing or potential purchases of common shares for
cancellation under a normal course issuer bid as well as 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, and CN's Board of Directors has discretion in the use
of the proceeds from the offering to which this news release
relates. The Company cautions that its assumptions may not
materialize and that economic conditions may render such
assumptions, although reasonable at the time they were made,
subject to greater uncertainty.
Important risk factors that could affect the above
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 and assumptions 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 and assumptions.
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 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, and Jackson, Miss., with connections to all points
in North America.
SOURCE CN