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Canadian National Railway unit gets tenders for 76% of 6.375% notes
By Toni Weeks
San Diego, Oct. 12 - Canadian National Railway Co. announced that the holders of 76% of its $400 million of 6.375% notes due Oct. 15, 2011 tendered their notes in the tender offer and consent solicitation launched by its subsidiary CNLX Canada Inc. The tender offer began Sept. 13 and expired at 11:59 p.m. ET on Oct. 11.
CNLX Canada accepted and paid for the tendered notes on Wednesday. Notes not tendered will remain outstanding until the Oct. 15 maturity date.
As announced when the offer began, holders were asked to consent to proposed amendments to the indenture governing the notes.
The company offered par plus accrued interest up to but excluding the Oct. 12 settlement date. Those who tendered also received a consent payment equal to $2.50 per $1,000 principal amount of notes.
Citigroup Global Markets Inc. (800 558-3745) was the dealer manager, and Global Bondholder Services Corp. (866 470-4300 or 212 430-3774) was the information agent.
The railway transportation company is based in Montreal.
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