MONTREAL,
Nov. 8, 2012 /PRNewswire/ - CN (TSX:
CNR) (NYSE: CNI) today announced a public two-tranche debt offering
of US$500 million, comprised of
US$250 million 2.25% Notes due 2022,
and US$250 million 3.50% Notes due
2042. CN expects to close the offering on Nov. 20, 2012, 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.
The debt offering is being made in the
United States under an effective shelf registration
statement CN filed on Nov. 4, 2011.
The joint book-running managers of the debt offering are Merrill
Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital
Markets, LLC and Wells Fargo Securities, LLC. The co-managers of
the debt offering are J.P. Morgan, BNP PARIBAS, BMO Capital
Markets, Citigroup, Scotiabank, TD Securities, US Bancorp.
A copy of the prospectus supplement and the accompanying
prospectus for the offering may be obtained by contacting Merrill
Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway,
11th Floor, New York, New
York 10038, Attention: Prospectus Department, toll free:
(800) 294-1322, e-mail: dg.prospectus_requests@baml.com; RBC
Capital Markets, LLC, Three World Financial Center, 200 Vesey
Street, New York, New York 10281,
Attention: Debt Capital Markets, toll free: (866) 375-6829, email:
usdebtcapitalmarkets@rbccm.com; or Wells Fargo Securities, LLC,
1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attention:
Client Support, toll free: (800) 326-5897, email:
cmclientsupport@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.
Forward-Looking Statements
Certain information included in this news
release constitutes "forward-looking statements" within the meaning
of the United States Private
Securities Litigation Reform Act of 1995 and under Canadian
securities laws, including with respect to the timing and
completion of the proposed debt offering, which is subject to
customary termination rights and closing conditions. CN cautions
that, by their nature, these forward-looking statements involve
risk, uncertainties and assumptions. The Company cautions that its
assumptions may not materialize and that the current economic
conditions render such assumptions, although reasonable at the time
they were made, subject to greater uncertainty.
Important risk factors that could affect the
above 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, various events which could disrupt operations,
including natural events such as severe weather, droughts, floods
and earthquakes, labor negotiations and disruptions, environmental
claims, uncertainties of investigations, proceedings or other types
of claims and litigation, risks and liabilities arising from
derailments, and other risks and assumptions 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 for a summary of major risks and
assumptions.
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
Canadian 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 - Canadian National Railway Company and its operating railway
subsidiaries - spans Canada and
mid-America, from the Atlantic and Pacific oceans to the
Gulf of Mexico, serving the ports
of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New
Orleans, and Mobile, Ala.,
and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth,
Minn./Superior, Wis.,
Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points
in North America. For more
information on CN, visit the company's website at www.cn.ca.
SOURCE CN