CALGARY, May 14 /PRNewswire-FirstCall/ -- Canadian Pacific Railway Limited (TSX/NYSE: CP) announced today that its wholly-owned subsidiary, Canadian Pacific Railway Company, is issuing US$400 million of 5.75% Notes due May 15, 2013 and US$300 million of 6.50% notes due May 15, 2018. The transaction is expected to close May 20, 2008. The net proceeds from this offering of approximately US$693 million will be used to repay a portion of the outstanding amount of the 18-month term credit facility incurred to fund the acquisition of the Dakota, Minnesota & Eastern Railroad (the "DM&E") in October 2007.
The debt offering is being made in the United States under the shelf registration statement dated May 1, 2007 for up to US$1.5 billion of debt securities.
Canadian Pacific, through the ingenuity of its employees located across Canada and in the United States, remains committed to being the safest, and 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. Our combined ingenuity makes CP a better place to work, rail a better way to ship, and North America a better place to live. Come and visit us at http://www.cpr.ca/ to see how we can put our ingenuity to work for you. 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: Leslie Pidcock, Manager, Corporate Communications, Tel.: (403) 319-6878, e-mail: ; Investment Community: Janet Weiss, Assistant Vice-President Investor Relations, Tel.: (403) 319-3591, e-mail:
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