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Canadian Pacific Railway unit extends consent date for 6.25% notes
By Toni Weeks
San Diego, Sept. 27 - Canadian Pacific Railway Ltd. subsidiary CPRH Canada Inc. extended the consent solicitation date for the $245.75 million of 6.25% notes due Oct. 15, 2011 issued by Canadian Pacific Railway Co., according to a company news release.
Holders who tender by the new consent date of 11:59 p.m. ET on Oct. 11, which is also the expiration date of the tender offer, will receive a consent payment equal to $2.50 per $1,000 principal amount of notes. Previously, the consent date was 5 p.m. ET on Sept. 26.
As previously reported, the company is offering par plus accrued interest.
Holders who tender notes are required to consent to the proposed amendment to the indenture.
Settlement is expected on Oct. 12.
The tender offer is subject to the receipt of the requisite majority consent to the proposed amendment to the indenture.
The dealer manager and solicitation agent is Citi (800 558-3745). The information agent is Global Bondholder Services Corp. (866 470-3700).
Calgary, Alta.-based Canadian Pacific operates a North American transcontinental railway.
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