Canadian Pacific Railway sets price talk for $800 million of notes in 10-, 30-year tranches

By Aleesia Forni

Virginia Beach, July 29 – Canadian Pacific Railway Co. set price talk for a planned $800 million offering of senior notes (Baa1/BBB+) in two tranches on Wednesday, according to a market source and a supplement filed with the Securities and Exchange Commission.

The 10-year notes are talked in the area of 162.5 basis points over Treasuries, and the 30-year bonds are talked in the area of Treasuries plus 195 bps.

The bookrunners are BofA Merrill Lynch, Citigroup Global Markets Inc., RBC Capital Markets LLC and Wells Fargo Securities LLC.

Proceeds will be used for general corporate purposes.

The railroad operator is based in Calgary, Alta.

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