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