Canadian National Railway Completes US$550M Notes Offering

On February 25, 2009 Canadian National Railway Company (CN) completed a US$550 million notes offering of 5.55 per cent notes due in 2019. The offering was conducted in the United States pursuant to a supplement to the short-form base shelf prospectus dated December 17, 2007 for the issuance of up to US$2.5 billion of debt securities under the Multi-jurisdictional Disclosure System. The offering was underwritten by a syndicate of underwriters with Citi and J.P. Morgan as joint book-running managers.

CN's team was led by executive vice president corporate services and chief legal officer Sean Finn, by deputy corporate secretary and general counsel Cristina Circelli, and by counsel Mathieu Lamothe and was represented in Canada by Stikeman Elliott LLP with a team that included Jean Marc Huot, Benoît C. Dubord, David Massé and Marie-Ève Ferland; and in the United States by Davis Polk & Wardwell with a team that included Alan Dean, Arthur Einav and Yasin Keshvargar.

Sullivan & Cromwell LLP in the United States represented the underwriters with a team that included Robert E. Buckholz, Jr., Joonkeun Yoo and James McFarlane.