Canadian Pacific Railway Completes $510M Cross-border Equity Offering

On February 11, 2008 Canadian Pacific Railway Limited completed a public offering of common shares in Canada and the US for gross proceeds of $510,825,000, which was underwritten by a syndicate led by Scotia Capital Inc., RBC Dominion Securities Inc. and Morgan Stanley Canada Ltd.

Canadian Pacific Railway Limited was represented in-house by Don Barnhardt; in Canada by Macleod Dixon LLP with a team that included Kevin Johnson, Don Tse, Kathleen Cowick and Candace Herman; and in the United States by Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team that included Andrew Foley, David Huntington and Stanislav Grigoryev.

The underwriters were represented in Canada by Blake, Cassels & Graydon LLP with a team that included Pat Finnerty, Ross Bentley, Jeffrey Bakker and Randy Bauslaugh and in the United States by Shearman & Sterling LLP with a team that included Christopher Cummings, Stephen Centra and Adam Lewinberg.