MONTREAL, July 27, 2017 /PRNewswire/ - CN (TSX: CNR)
(NYSE: CNI) today announced a public debt offering of C$500 million 3.6% Notes due 2047. CN
expects to close the offering on Aug. 1,
2017, subject to customary closing conditions.
CN plans to use the net proceeds from the offering for general
corporate purposes, including the redemption and refinancing of
outstanding indebtedness, and share repurchases.
The debt offering is being made in Canada under CN's base shelf prospectus dated
Jan. 5, 2016.
This news 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.
The securities have not been registered under the U.S.
Securities Act of 1933, as amended, or any state securities laws,
and may not be offered or sold in the
United States or to U.S. persons absent registration or an
applicable exemption from the registration requirements.
Forward-Looking Statements
Certain statements
included in this news release constitute "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and under Canadian
securities laws, including statements relating to potential debt
refinancing as well as with respect to the timing and completion of
the proposed debt offering, which is subject to customary
termination rights and closing conditions. By their nature,
forward-looking statements involve risks, uncertainties and
assumptions and CN's Board of Directors has discretion in the use
of the proceeds from the offering to which this news release
relates. The Company cautions that its assumptions may not
materialize. Forward-looking statements may be identified by
the use of terminology such as "believes," "expects,"
"anticipates," "assumes," "outlook," "plans," "targets," or other
similar words.
Forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors which may cause the actual results or performance of
the Company to be materially different from the outlook or any
future results or performance implied by such statements.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements.Important risk factors that could affect
the forward-looking statements include, but are not limited to, the
effects of general economic and business conditions; industry
competition; inflation, currency and interest rate fluctuations;
changes in fuel prices; legislative and/or regulatory developments;
compliance with environmental laws and regulations; actions by
regulators; increase in maintenance and operating costs; security
threats; reliance on technology; trade restrictions; transportation
of hazardous materials; various events which could disrupt
operations, including natural events such as severe weather,
droughts, floods and earthquakes; climate change; labor
negotiations and disruptions; environmental claims; uncertainties
of investigations, proceedings or other types of claims and
litigation; risks and liabilities arising from derailments; timing
and completion of capital programs; and other risks detailed from
time to time in reports filed by CN with securities regulators in
Canada and the United States. Reference should be made to
Management's Discussion and Analysis in CN's annual and interim
reports, Annual Information Form and Form 40-F, filed with Canadian
and U.S. securities regulators and available on CN's website, for a
description of major risk factors.
Forward-looking statements reflect information as of the date on
which they are made. CN assumes no obligation to update or revise
forward-looking statements to reflect future events, changes in
circumstances, or changes in beliefs, unless required by applicable
securities laws. In the event CN does update any forward-looking
statement, no inference should be made that CN will make additional
updates with respect to that statement, related matters, or any
other forward-looking statement.
CN is a true backbone of the economy whose team of approximately
23,000 railroaders transports more than C$250 billion worth of goods annually for a wide
range of business sectors, ranging from resource products to
manufactured products to consumer goods, across a rail network of
approximately 20,000 route-miles spanning Canada and mid-America. CN – Canadian National
Railway Company, along with its operating railway subsidiaries –
serves the cities and ports of Vancouver, Prince
Rupert, B.C., Montreal,
Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of
Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth,
Minn./Superior, Wis., and
Jackson, Miss., with connections
to all points in North America.
For more information about CN, visit the company's website at
www.cn.ca.
SOURCE CN