Canadian National Railway Launches US$750M Debt Offering with 4.35% and 4.95% Notes
Canadian National Railway Company announced a US$750 million public debt offering comprising US$300 million of 4.350% notes due 2029 and US$450 million of 4.950% notes due 2036. The offering, expected to close on May 12, 2026, will fund general corporate purposes including repayment of commercial paper.
1. Debt Offering Details
Canadian National Railway Company is offering US$750 million of public debt split into US$300 million of 4.350% notes maturing in 2029 and US$450 million of 4.950% notes maturing in 2036 under its effective shelf registration statement.
2. Use of Proceeds
Net proceeds from the offering will support general corporate purposes, including the repayment of outstanding commercial paper, which aims to enhance liquidity and optimize the company's debt maturity profile.
3. Closing and Underwriting
The offering is scheduled to close on May 12, 2026, subject to customary closing conditions, with J.P. Morgan Securities, RBC Capital Markets and SMBC Nikko Securities America serving as joint bookrunners.