NORFOLK SOUTHERN CORP (NSC): debt financing — Norfolk Southern enters into $800M revolver and $1B term loan facilities

NORFOLK SOUTHERN CORP

New $800M unsecured revolving credit facility matures Jan 2031, amends and restates existing $800M facility from 2020.
New $1B unsecured 364-day delayed draw term loan facility for general corporate purposes.
No direct financial obligations have arisen under either facility as of filing date.
Interest rates vary based on Base Rate or Adjusted Term SOFR; customary covenants include leverage ratio test.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NORFOLK SOUTHERN CORP incurred term loan of $1,000 million with Bank of America, N.A. maturing 364-day.

Instrument: term loan
Principal: $1,000 million
Counterparty: Bank of America, N.A.
Maturity: 364-day
Event: incurrence

Exact text from the filing

The Term Loan Credit Agreement establishes a 364-day, $1,000 million, unsecured delayed draw term loan facility under which the Registrant can borrow for general corporate purposes.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NORFOLK SOUTHERN CORP incurred revolving credit of $800 million with Wells Fargo Bank, N.A. maturing 5-year.

Instrument: revolving credit
Principal: $800 million
Counterparty: Wells Fargo Bank, N.A.
Maturity: 5-year
Event: incurrence

Exact text from the filing

The New Revolving Credit Agreement establishes a 5-year, $800 million, unsecured revolving credit facility under which the Registrant can borrow (i) to refinance the Existing Revolving Credit Agreement (as defined below), (ii) to pay fees, commissions and expenses in connection with the New Revolving Credit Agreement and (iii) for general corporate purposes.

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283 debt financings filed in the last 30 days. Browse all debt financings →

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Source: SEC EDGAR

accession 0001552781-24-000023

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