Canadian Pacific Railway Ltd. said Thursday (May 28) it will increase to $475 million the amount of its debt it is offering to buy back from bond holders, according to the Associated Press.
Earlier this month, the Calgary, Alberta-based railway said it would buy back up to $450 million of debt securities. Since the May 12 offer, bond holders have tendered about $528.5 million in notes.
The buyback offer expires June 10.
J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. are the offer's dealer managers.
(The preceding article was distributed May 28, 2009, by the Associated Press.)
