Canadian National Railway Co. said Wednesday (Feb. 18) it has launched a public debt offering of $550 million in 5.55 percent notes due 2019.
The railroad operator expects to close the financing Feb. 25. With the anticipated $540 million in proceeds, it plans to repay a portion of its other debts, including the financing of its recent acquisition of the Elgin, Joliet & Eastern Railway Co.
U.S.-traded shares of Canadian National Railway fell 9 cents to close at $33.40.
(The preceding report was distributed February 18, 2009, by the Associated Press.)
