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Rail News: Canadian National Railway - CN

CN issues $500 million debt offering

CN late last week announced a public debt offering of $500 million worth of 2.75 percent notes due 2026.

The railroad will use the offering's proceeds for debt refinancing, share repurchases and other general corporate purposes, CN officials said in a press release.

The debt offering is being made in the United States under an effective shelf registration statement the Class I filed Jan. 5.

CN expects to close the offering tomorrow, subject to customary closing conditions.

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More News from 2/22/2016