Norfolk Southern starts exchange for any and all 7.9% notes due 2097

By Jennifer Chiou

New York, Aug. 23 - Norfolk Southern Corp. announced the launch of an offer to exchange any and all of its 7.9% notes due 2097.

The company is offering new 5.3% notes due 2040 and cash for the securities.

The new notes will be unsecured obligations of Norfolk Southern and will rank pari passu with all other unsecured and unsubordinated indebtedness of the company, according to a news release.

The exchange will wrap at midnight ET on Oct. 14.

Those who tender their notes for exchange prior to 5 p.m. ET on Sept. 29 will receive a to-be-determined early exchange premium.

D.F. King & Co. Inc. is the information agent (800 848-3416 or call collect 212 269-5550).

The freight railroad operator is based in Norfolk, Va.

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