CALGARY, July 29, 2015 /CNW/ - Canadian Pacific Railway Limited
(TSX:CP)(NYSE:CP) announces that its wholly-owned subsidiary, Canadian
Pacific Railway Company, is issuing:
● US$250 million of 3.700% Notes due 2026
● US$550 million of 4.800% Notes due 2045
The transaction is expected to close on August 3, 2015, subject to
customary closing conditions.
The offering is being made in the United States under Canadian Pacific
Railway Company's base shelf prospectus dated July 11, 2013 and
prospectus supplement dated July 29, 2015. The net proceeds from this
offering will be used for general corporate purposes, including
reducing short term indebtedness, which indebtedness was used to fund
capital investments and share repurchases under our normal course
issuer bid.
The joint book-running managers of the debt offering are Citigroup
Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, RBC Capital Markets, LLC and Wells Fargo Securities, LLC.
A copy of the prospectus supplement and the accompanying prospectus for
the offering may be obtained by contacting Citigroup Global Markets
Inc., Attn: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: 1-800-831-9146 (toll-free), e-mail:
prospectus@citi.com; Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attn:
Prospectus Department, telephone: 1-800-294-1322 (toll-free), e-mail:
dg.prospectus_requests@baml.com; RBC Capital Markets, LLC, Three World
Financial Center, 200 Vesey Street, New York, NY 10281, Attn: Debt
Capital Markets, telephone: 1-866-375-6829 (toll-free), e-mail:
usdebtcapitalmarkets@rbccm.com; and Wells Fargo Securities, LLC, 608
2nd Avenue, South Minneapolis, MN 55402, Attn: WFS Customer Service,
telephone: 1-800-645-3751 (toll-free), e-mail:
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.
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,
the intended use of proceeds from the offering including the reduction
of short term indebtedness and the timing and completion of the
proposed debt offering. 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: the
key assumptions identified above; 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 growing with its customers, offering a suite of
freight transportation services, logistics solutions and supply chain
expertise.
SOURCE Canadian Pacific