Norfolk Southern renews HQ lease for 5 years, $498.7M aggregate; reclassifies as finance lease

NORFOLK SOUTHERN CORP

Renewed lease for headquarters at 650 West Peachtree Street, Atlanta, for a 5-year term starting April 1, 2026.
Aggregate lease amount of approximately $498.7 million at floating interest rate (Term SOFR plus margin).
Lease reclassified from operating to finance lease for financial reporting purposes.
Norfolk Southern Corporation guarantees subsidiary's obligations under the lease.
BAL (BA Leasing BSC, LLC) now sole counterparty; previous bank interests transferred.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NORFOLK SOUTHERN CORP amended Amended and Restated Participation Agreement with BA Leasing BSC, LLC valued at approximately $498.7 million (effective 2026-04-01).

Action: amendment
Agreement: lease
Counterparty: BA Leasing BSC, LLC
Value: approximately $498.7 million
Effective: 2026-04-01

Exact text from the filing

On April 1, 2026 (the “Closing Date”), Norfolk Southern Corporation (the “Company”), through its wholly-owned freight railroad subsidiary Norfolk Southern Railway Company (“NSRC”), entered into certain amended and restated agreements to renew the lease of its corporate headquarters building located at 650 West Peachtree Street NW, Atlanta, Georgia (the “Building”) for an additional five-year term.

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Source: SEC EDGAR

accession 0001193125-26-140350

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