CP RAILWAY PLANS $750-MILLION DEBT OFFERING
Canadian Pacific railway said Wednesday it will issue a $750-million debt offering to repay indebtedness and other general corporate purposes.
The debt will be issues in two series, $400 million in 6.25-percent notes due 2011, and $350 million in 7.125-percent debentures due 2031. The company expects to close the financing on Oct. 30.
Salomon Smith Barney Inc. is the sole book-running manager on the offering. Credit Suisse First Boston Corp. and Banc of America Securities LLc are joint lead managers.
The company provides rail service to Canada, Mexico and the United States through a 14,00-mile network.