CSX to redeem 8.375% secured equipment notes due 2014 via new offerings

By Tali Rackner

Norfolk, Va., July 16 – CSX Corp. plans to use the proceeds from new senior notes offerings to redeem CSX Transportation, Inc.’s 8.375% secured equipment notes due Oct. 15, 2014, according to a 424B2 filing with the Securities and Exchange Commission.

Proceeds will also be used for general corporate purposes, which may include repayment of additional debt (including CSX’s 6.25% notes due April 1, 2015), repurchases of its common stock, capital investment, working capital requirements, improvements in productivity and other cost reductions at CSX’s major transportation units.

CSX provides rail-based transportation services and is based in Jacksonville, Fla.

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