Bennett Jones is acting for Canadian Pacific Railway Limited (CP) on US$8.5 billion in concurrent debt offerings in Canada and the United States. CP's wholly-owned subsidiary, Canadian Pacific Railway Company, is issuing the Notes, which will be guaranteed by CP. The offering in Canada is expected to close on November 24, 2021, and the offering in the United States is expected to close on December 2, 2021.
The Bennett Jones team is led by Harinder Basra (corporate/securities) and includes:
The net proceeds from the offerings will be used to indirectly fund CP's acquisition of Kansas City Southern (KCS). Bennett Jones is advising CP on Canadian M&A, corporate/securities, tax, finance, employment and competition/antitrust matters on the previously announced US$31-billion merger with KCS.