CALGARY, May 12 /PRNewswire-FirstCall/ -- Canadian Pacific Railway Limited (TSX/NYSE: CP) announced today that its wholly-owned subsidiary, Canadian Pacific Railway Company, has commenced an offering of US$300 million aggregate principal amount of 10 year Notes. CP intends to use the net proceeds from the offering to partially finance the repurchase of certain of its outstanding US dollar denominated long-term debt securities pursuant to a tender offer announced today. The balance, if any, will be used for general corporate purposes. This offering is consistent with CP's objective to enhance its capital structure and improve its debt maturity profile.
This announcement shall not constitute an offer to sell or a solicitation of an offer to buy the Senior Notes. The offering will be made under an effective shelf registration statement. A copy of the preliminary prospectus supplement and related base prospectus may be obtained from the SEC's website at http://www.sec.gov/. Alternatively, copies will be provided upon written request to: Office of the Corporate Secretary
Canadian Pacific
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401 - 9th Avenue SW
Calgary, AB T2P 4Z4 About Canadian Pacific Canadian Pacific, through the ingenuity of its employees located across Canada and in the United States, intends to be the safest, most fluid railway in North America. Our people are the key to delivering innovative transportation solutions to our customers and to ensuring the safe operation of our trains through the more than 900 communities where we operate. Canadian Pacific is proud to be the official rail freight services provider for the Vancouver 2010 Olympic and Paralympic Winter Games. DATASOURCE: Canadian Pacific Railway CONTACT: Media Contact: Leslie Pidcock, Canadian Pacific, Tel.: (403) 319-6878, e-mail: ; Investment Community: Janet Weiss, Canadian Pacific, Tel.: (403) 319-3591, e-mail:
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