CPKC announces US $1.2 billion debt offering

Core Viewpoint - Canadian Pacific Kansas City Limited (CPKC) is issuing US$1.2 billion in notes to refinance existing debt and for general corporate purposes, with the offering expected to close on March 17, 2025 [1][2]. Group 1: Offering Details - CPKC's wholly-owned subsidiary, Canadian Pacific Railway Company, is issuing US$600 million of 4.800% Notes due 2030 and US$600 million of 5.200% Notes due 2035 [1]. - The offering is guaranteed by CPKC and is subject to customary closing conditions [1]. - The net proceeds will primarily be used for refinancing outstanding indebtedness and may be temporarily invested in short-term investment grade securities or bank deposits until utilized [2]. Group 2: Underwriters and Registration - The joint active bookrunners for the offering include Wells Fargo Securities, BofA Securities, Goldman Sachs, and Morgan Stanley, along with a syndicate of other financial institutions [3]. - The offering is made under an effective shelf registration statement previously filed with the SEC, and copies of the documents can be obtained from the SEC or the underwriters [4]. Group 3: Company Overview - CPKC is the first and only single-line transnational railway linking Canada, the United States, and Mexico, with access to major ports across North America [10]. - The company operates approximately 20,000 route miles and employs 20,000 railroaders, providing extensive rail service and logistics solutions to its customers [10].