CALGARY, June 19, 2014 /CNW/ - Canadian Pacific Railway Limited
(TSX/NYSE: CP) today announced that its wholly owned subsidiary,
Canadian Pacific Railway Company, has terminated its previously
announced tender offers (collectively, the "Offers") for its 7.125%
Notes due 2031, 9.450% Notes due 2021, 5.950% Notes due 2037 and 5.750%
Notes due 2033 (collectively, the "Notes") in accordance with its Offer
to Purchase dated June 5, 2014.
None of the Notes were purchased in the Offers and all Notes previously
tendered and not withdrawn will be promptly credited, without expense,
to the proper accounts of the holders thereof maintained at DTC.
This press release is for informational purposes only and is not an
offer to buy or the solicitation of an offer to sell with respect to
any securities.
Note on forward-looking information
This news release contains certain forward-looking information within
the meaning of applicable securities laws relating, but not limited, to
our operations, priorities and plans, anticipated financial
performance, purchases of common shares for cancellation under CP's
share repurchase program, future sources of capital, business
prospects, planned capital expenditures, programs and strategies. This
forward-looking information also includes, but is not limited to,
statements concerning expectations, beliefs, plans, goals, objectives,
assumptions and statements about possible future events, conditions,
and results of operations or performance. Forward-looking information
may contain statements with words or headings such as "financial
expectations", "key assumptions", "anticipate", "believe", "expect",
"plan", "will", "outlook", "should" or similar words suggesting future
outcomes.
Undue reliance should not be placed on forward-looking information as
actual results may differ materially from the forward-looking
information. Forward-looking information is not a guarantee of future
performance. By its nature, CP's forward-looking information involves
numerous assumptions, inherent risks and uncertainties that could cause
actual results to differ materially from the forward-looking
information, including but not limited to the following factors:
changes in business strategies; general North American and global
economic, credit and business conditions; risks in agricultural
production such as weather conditions and insect populations; the
availability and price of energy commodities; the effects of
competition and pricing pressures; industry capacity; shifts in market
demand; changes in commodity prices; uncertainty surrounding timing and
volumes of commodities being shipped via CP; inflation; changes in laws
and regulations, including regulation of rates; changes in taxes and
tax rates; potential increases in maintenance and operating costs;
uncertainties of investigations, proceedings or other types of claims
and litigation; labour disputes; risks and liabilities arising from
derailments; transportation of dangerous goods; timing of completion of
capital and maintenance projects; currency and interest rate
fluctuations; effects of changes in market conditions and discount
rates on the financial position of pension plans and investments; and
various events that could disrupt operations, including severe weather,
droughts, floods, avalanches and earthquakes as well as security
threats and governmental response to them, and technological changes.
The foregoing list of factors is not exhaustive.
These and other factors are detailed from time to time in reports filed
by CP with securities regulators in Canada and the United States.
Reference should be made to "Management's Discussion and Analysis" in
CP's annual and interim reports, Annual Information Form and Form 40-F.
Readers are cautioned not to place undue reliance on forward-looking
information.
Forward-looking information is based on current expectations, estimates
and projections and it is possible that predictions, forecasts,
projections, and other forms of forward-looking information will not be
achieved by CP. Except as required by law, CP undertakes no obligation
to update publicly or otherwise revise any forward-looking information,
whether as a result of new information, future events or otherwise.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in
Canada and the United States with direct links to eight major ports,
including Vancouver and Montreal, providing North American customers a
competitive rail service with access to key markets in every corner of
the globe. CP is a low-cost provider that is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit www.cpr.ca to see
the rail advantages of Canadian Pacific.
SOURCE Canadian Pacific
