CPKC subsidiary prices C$1.4B debt offering in three tranches for refinancing

CANADIAN PACIFIC KANSAS CITY LTD/CN

CP Rail (CPRC) issues C$500M 4.00% Notes due 2032, C$600M 4.40% Notes due 2036, C$300M 4.80% Notes due 2055.
Notes guaranteed by CPKC; expected close June 13, 2025, subject to customary conditions.
Net proceeds to refinance CPRC outstanding indebtedness and for general corporate purposes.
Joint lead agents: Scotia Capital, BMO Nesbitt Burns, CIBC World Markets, RBC Capital Markets.
Offering made in Canada under base shelf prospectus dated March 6, 2025.

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