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Rail News: Financials
Yesterday, Canadian National Railway Co. announced it refinanced a $1 billion revolving credit facility for five years with a BMO Nesbitt Burns Inc.-led international banking syndicate.
CN plans to use the credit facility as working capital and for general corporate purposes. Scheduled to expire in December, the facility now is extended until March 2010.
“Our existing banking syndicate, with the addition of new banks, has affirmed its confidence in CN’s solid financial performance,” said Claude Mongeau, CN executive vice president and chief financial officer, in a prepared statement.
3/30/2005
Rail News: Financials
CN tacks five years onto $1 billion credit line
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Yesterday, Canadian National Railway Co. announced it refinanced a $1 billion revolving credit facility for five years with a BMO Nesbitt Burns Inc.-led international banking syndicate.
CN plans to use the credit facility as working capital and for general corporate purposes. Scheduled to expire in December, the facility now is extended until March 2010.
“Our existing banking syndicate, with the addition of new banks, has affirmed its confidence in CN’s solid financial performance,” said Claude Mongeau, CN executive vice president and chief financial officer, in a prepared statement.
