Canadian Pacific adds $300 million facility, extends $1 billion

By Wendy Van Sickle

Columbus, Ohio, Oct. 1 – Canadian Pacific Railway Co. added a new $300 million two-year credit facility and extended the maturity of its $1 billion credit facility originally entered on Sept. 26, 2014 to Sept. 27, 2024 from June 28, 2023, according to an 8-K filing with the Securities and Exchange Commission.

Royal Bank of Canada as administrative agent.

RBC Capital Markets, BMO Capital Markets, Morgan Stanley MUFG Loan Partners, LLC and Citibank, NA, Canadian Branch are the co-lead arrangers, and RBC and BMO are the joint bookrunners. Bank of Montreal is the syndication agent, and Morgan Stanley MUFG and Citibank are the co-documentation agents.

The new credit facility will mature on Sept. 27, 2021.

The amendment and restatement of the credit facility occurred on Friday.

Canadian Pacific is a transcontinental railway based in Calgary, Alta.

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