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Canadian National Plans $550 Million Debt Offering |
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| Wednesday September 19th, 2007 / 22h21 |
DOW JONES NEWSWIRES
Montreal railway company Canadian National Railway Co. (CNI) will make an offering of $250 million of 5.85% notes due 2017 and $300 million 6.375% debentures due 2037.
The company said it expects to close the offering Sept. 24. It will use the estimated net proceeds of $544 million to repay a portion of its commercial paper outstanding and to reduce its accounts receivable securitization program.
Lead managers of the debt offering are Citi Markets & Banking and J.P. Morgan Securities Inc.
-Tara Zachariah; 416-306-2100; AskNewswires@dowjones.com
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| Wednesday September 19th, 2007 / 22h21 |
Source : Dowjones Business News |
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