CPKC prices C$1.8 billion multi-tranche bond offering
CP•CPKC unit Canadian Pacific Railway priced C$1.8 billion of guaranteed notes in four tranches, with maturities from 2030 to 2056. Proceeds will mainly refinance existing debt, with the balance for general corporate purposes.
1. Four note tranches
The offering includes C$500 million of 4.20% notes due 2030, C$550 million of 4.60% notes due 2033, C$300 million of 4.90% notes due 2037 and C$450 million of 5.40% notes due 2056.
2. Closing and proceeds
Closing is targeted for Oct. 6, 2026, subject to customary conditions. Proceeds are earmarked mainly to refinance existing debt, with the balance for general corporate purposes.
