CPKC Unit Prices C$1.8 Billion Four-Tranche Bond Offering
Calgary, AB – September 28, 2026 -- Canadian Pacific Railway Company (CPRC), the wholly owned subsidiary of Canadian Pacific Kansas City Limited (TSX: CP) (NYSE: CP), is issuing C$1.8 billion in notes across four tranches, guaranteed by parent CPKC.
CPRC structures debt sale across four maturities from 2030 to 2056
The offering comprises C$500 million of 4.20% Notes due 2030, C$550 million of 4.60% Notes due 2033, C$300 million of 4.90% Notes due 2037 and C$450 million of 5.40% Notes due 2056. The staggered maturity profile spans 4 to 30 years, giving CPKC a blended long-term debt structure.
Net proceeds target refinancing of existing CPRC debt
CPKC stated the funds will be used primarily for refinancing outstanding indebtedness and for general corporate purposes. Until deployed, unused proceeds may be parked in short-term investment-grade securities, money market funds or bank deposits.