MONTREAL, Feb. 18, 2016 /CNW/ - CN (TSX: CNR) (NYSE:
CNI) today announced a public debt offering of US$500 million 2.75% Notes due 2026. CN
expects to close the offering on Feb. 23,
2016, 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 Jan. 5, 2016.
The joint book-running managers of the debt offering are:
Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner &
Smith Incorporated, and Wells Fargo Securities, LLC. The
co-managers of the debt offering are BNP PARIBAS, RBC Capital
Markets, LLC, BMO Capital Markets, HSBC, MUFG, Scotiabank,
SMBC Nikko, 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; Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus
Department, toll free: 1-800-294-1322, email:
dg.prospectus_requests@baml.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 current economic conditions may 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 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's team of approximately 23,000 railroaders transports more
than 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 of approximately 20,000 route-miles 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