On September 22, 2015, Canadian National Railway Company (CN) completed the offering of $350 million aggregate principal amount of 2.80 per cent Notes due 2025, $400 million aggregate principal amount of 3.95 per cent Notes due 2045, and $100 million aggregate principal amount of 4.00 per cent Notes due 2065.
The offering was made in Canada under a shelf prospectus dated December 3, 2013, and pursuant to a prospectus supplement dated September 14, 2015.
Net proceeds from the offering will be used for general corporate purposes, including the redemption and refinancing of outstanding indebtedness, and share repurchases.
The transaction was completed on an agency basis by a syndicate co-led by joint book running managers BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and TD Securities Inc. The syndicate also included Citigroup Global Markets Canada Inc., HSBC Securities (Canada) Inc., BNP Paribas (Canada) Securities Inc., Desjardins Securities Inc., Merrill Lynch Canada Inc. and Wells Fargo Securities Canada Ltd.
CN’s legal team was led by the Executive Vice-President Corporate Services and Chief Legal Officer, Sean Finn, by Deputy Corporate Secretary and General Counsel, Cristina Circelli and by Counsels, Mathieu Lamothe, Wendy Kennish and Christopher Pendenza.
The company was represented in Canada by Stikeman Elliott LLP with a team that included Jean Marc Huot, Benoît Dubord, and Karine Bilodeau (corporate and securities), Marie Andrée Beaudry and Philippe Kattan (tax).
Norton Rose Fulbright Canada LLP acted as legal counsel to the agents. The Norton Rose Fulbright team included Solomon Sananes, Elliot Shapiro and Marilyne Rougeau (corporate and securities) and Derek Chiasson (tax).