---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-106558"
form_type: "8-K"
ticker: "CP"
cik: "0000016875"
company_name: "CANADIAN PACIFIC KANSAS CITY LTD/CN"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-16T23:42:10.673518+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# CPKC completes exchange of ~$3.01B KCS notes; tender rates exceed 90%

## Summary
- CPKC/CPRC exchanged ~$3.01B of KCS notes for new CPRC notes; tender rates exceeded 90% per series.
- Only $83.6M of old notes remain outstanding after exchange; KCS notes cancelled.
- Consent amendments removed certain reporting covenants and events of default from KCS indentures.
- New CPRC notes issued with CPKC guarantee, matching maturities and coupons of exchanged old notes.

## SEC filing metadata
- accession: 0001193125-23-106558
- form_type: 8-K
- ticker: CP
- cik: 0000016875
- company_name: CANADIAN PACIFIC KANSAS CITY LTD/CN
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/16875/000119312523106558/0001193125-23-106558-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/16875/000119312523106558/d356812d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-106558
- JSON: https://secwatch.observer/filing/0001193125-23-106558.json
- Plain text: https://secwatch.observer/filing/0001193125-23-106558.txt

## Key facts
- Debt Financings
  CANADIAN PACIFIC KANSAS CITY LTD/CN amended senior notes.
  - Instrument: senior notes
  - Event: amendment
  source text: which amended and supplemented the Old Notes Indentures and adopted the Amendments. The Amendments, among other things, modified or eliminated certain reporting requirements, restrictive covenants and events of default
  evidence_url: https://www.sec.gov/Archives/edgar/data/16875/000119312523106558/0001193125-23-106558-index.htm
- Debt Financings
  CANADIAN PACIFIC KANSAS CITY LTD/CN incurred senior notes of $ 226,823,000 of 3.125% Notes due 2026, $414,838,000 of 2.875% Notes due 2029, $448,453,000 of 4.300% Notes due 2043, $4 with Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee at 3.125%, 2.875%, 4.300%, 4.950%, 4.700%, 3.500%, 4.200% maturing 2026, 2029, 2043, 2045, 2048, 2050, 2069.
  - Instrument: senior notes
  - Principal: $ 226,823,000 of 3.125% Notes due 2026, $414,838,000 of 2.875% Notes due 2029, $448,453,000 of 4.300% Notes due 2043, $4
  - Counterparty: Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee
  - Rate: 3.125%, 2.875%, 4.300%, 4.950%, 4.700%, 3.500%, 4.200%
  - Maturity: 2026, 2029, 2043, 2045, 2048, 2050, 2069
  - Event: incurrence
  source text: for CPRC's 3.125% Notes due 2026, 2.875% Notes due 2029, 4.300% Notes due 2043, 4.950% Notes due 2045, 4.700% Notes due 2048, 3.500% Notes due 2050 and 4.200% Notes due 2069
  evidence_url: https://www.sec.gov/Archives/edgar/data/16875/000119312523106558/0001193125-23-106558-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.