CPKC Announces $1.2 Billion Debt Offering for Refinancing and Growth
CALGARY, AB, March 4, 2026 – Canadian Pacific Kansas City Limited (TSX: CP) (NYSE: CP) (“CPKC”) today announced a combined $1.2 billion debt offering, issuing US $600 million of 4.000% Notes due 2029 and US $600 million of 5.500% Notes due 2056, guaranteed by CPKC. The offering is expected to finalize on March 6, 2026, contingent upon standard closing conditions.
Strategic Apply of Proceeds
CPKC intends to utilize the net proceeds from this offering primarily for two key financial objectives: refinancing existing debt and funding general corporate purposes. Until deployed for these purposes, the funds will be strategically invested in short-term, investment-grade securities or bank deposits, maximizing returns even as maintaining liquidity.
Underwriting Details
The debt offering is being led by a consortium of prominent financial institutions. Goldman Sachs &. Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and SMBC Nikko Securities America, Inc. Are acting as joint active bookrunners. They are supported by a syndicate including BMO Capital Markets Corp., CIBC World Markets Corp., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., BofA Securities, Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, ATB Capital Markets Corp., Desjardins Securities Inc., and U.S. Bancorp Investments, Inc.
Accessing Offering Documents
Investors can access the relevant documentation for this offering through the Securities and Exchange Commission (SEC) website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus can be requested directly from the bookrunners:
- Goldman Sachs & Co. LLC: 1-866-471-2526
- Barclays Capital Inc.: 1-888-603-5847
- Citigroup Global Markets Inc.: 1-800-831-9146
- SMBC Nikko Securities America, Inc.: 1-888-868-6856
Forward-Looking Statements
This press release contains forward-looking information regarding the use of proceeds, the timing and completion of the offering, and other potential future events. These statements are based on current expectations, estimates, and assumptions, and are subject to inherent risks and uncertainties. Actual results may differ materially from those expressed or implied by these forward-looking statements. Factors that could cause such differences are detailed in CPKC’s filings with securities regulators in Canada and the United States, including the “Risk Factors” section of their Form 10-K and 10-Q reports.
About CPKC
Headquartered in Calgary, Alberta, Canada, CPKC is a unique single-line transnational railway connecting Canada, the United States, and Mexico. CPKC provides access to major ports across North America, spanning from Vancouver to Atlantic Canada, the Gulf Coast, and Lázaro Cárdenas, México. With approximately 20,000 route miles and a workforce of 20,000, CPKC offers a comprehensive suite of freight transportation services, logistics solutions, and supply chain expertise. The company was formed through the combination of Canadian Pacific (CP) and Kansas City Southern (KCS).
SOURCE CPKC
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