CALGARY, Sept. 8, 2015 /CNW/ - Canadian Pacific Railway
Limited (TSX:CP)(NYSE:CP) announces that its wholly-owned
subsidiary, Canadian Pacific Railway Company, is issuing:
● US$300 million
of 4.800 percent Notes due 2035
● US$900 million of 6.125 percent
Notes due 2115
The transaction is expected to close on
September 11, 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 August 31, 2015 and prospectus supplement dated
September 8, 2015. The net proceeds
from this offering will be used for general corporate purposes,
including, primarily, the reduction and refinancing of short term
and long term indebtedness.
The joint book-running managers of the debt
offering are Morgan Stanley & Co. LLC, HSBC Securities
(USA) Inc., J.P. Morgan Securities
LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC
Capital Markets, LLC.
A copy of the prospectus supplement and the
accompanying prospectus for the offering may be obtained by
contacting Morgan Stanley & Co. LLC, Attn: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649;
HSBC Securities (USA) Inc., Attn:
Transaction Management Group, 452 Fifth Avenue, New York, NY, 10018, telephone:
1-866-811-8049; J.P. Morgan Securities LLC, Attn: Investment Grade
Syndicate Desk, 383 Madison Ave, New
York, NY 10179, telephone: 212-834-4533; 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 and 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.
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 and refinancing
of short term and long 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