{"success":true,"data":{"pressRelease":{"id":"154721","rtpr_id":"nPn2CH17a-20260929","ticker":"CP","exchange":"NYSE","all_tickers":["CP"],"title":"CPKC announces C$1.8 billion debt offering","author":"PR Newswire","published_at":"2026-09-29T03:00:44.323Z","article_body":"CPKC announces C$1.8 billion debt offering\nPR Newswire\n\nCALGARY, AB, Sept. 28, 2026\n\nThe shelf prospectus supplement, the corresponding base shelf prospectus and\nany amendment to the documents will be accessible through SEDAR+ within two\nbusiness days\n\nCALGARY, AB, Sept. 28, 2026 /PRNewswire/ -- Canadian Pacific Kansas City\nLimited (TSX: CP) (NYSE: CP) (\"CPKC\") announced that its wholly owned\nsubsidiary, Canadian Pacific Railway Company (\"CPRC\"), is issuing C$500\nmillion of 4.20% Notes due 2030, C$550 million of 4.60% Notes due\n2033, C$300 million of 4.90% Notes due 2037 and C$450\nmillion of 5.40% Notes due 2056, which will be guaranteed by CPKC (the\n\"Offering\").\n\nThe Offering is expected to close on October 6, 2026, subject to the\nsatisfaction of customary closing conditions.\n\nThe net proceeds from the Offering will be used primarily for the\nrefinancing of CPRC's outstanding indebtedness and for general corporate\npurposes. Until utilized for such purposes, the net proceeds may be invested\nin short-term investment grade securities, money market funds or bank\ndeposits.\n\nThe joint lead agents and joint active bookrunners for the Offering are CIBC\nWorld Markets Inc., BMO Nesbitt Burns Inc., RBC Capital Markets, and Scotia\nCapital Inc.\n\nThe Offering is being made in Canada under CPRC's base shelf\nprospectus dated March 6, 2025, as supplemented by the prospectus supplement\nin respect of the Offering dated September 28, 2026 (the \"Prospectus\").\n\nThe securities offered in the Offering have not been and will not be\nregistered under the U.S. Securities Act of 1933, as amended (the \"Securities\nAct\"), or any U.S. state securities laws, and may not be offered or sold in\nthe United States or to, or for the account or benefit of, U.S. persons (as\ndefined in Regulation S under the Securities Act) without registration or an\napplicable exemption from, or in a transaction not subject to, the\nregistration requirements of the Securities Act and applicable U.S. state\nsecurities laws. This press release does not constitute an offer to sell or\nthe solicitation of an offer to buy any securities nor shall there be any sale\nof these securities in any state or jurisdiction in which such an offer,\nsolicitation or sale would be unlawful.\n\nAccess to the Prospectus is provided in accordance with securities legislation\nrelating to procedures for providing access to a shelf prospectus supplement,\na base shelf prospectus and any amendment. The document will be accessible on\nSEDAR+ at www.sedarplus.ca (http://www.sedarplus.ca) .\n\nAn electronic or paper copy of the Prospectus and any amendment thereto may be\nobtained, without charge, from CIBC World Markets Inc. by phone at\n416-594-8515 or by email at mailbox.cibcdebtsyndication@cibc.com, from BMO\nNesbitt Burns Inc. by phone at 416-359-6359 or by email at\nDCMCADSyndicateDesk@bmo.com (mailto:DCMCADSyndicateDesk@bmo.com) , from RBC\nCapital Markets by phone at 416-842-6311 or by email at\ntorontosyndicate@rbccm.com (mailto:torontosyndicate@rbccm.com) , and from\nScotia Capital Inc. by phone at 416-863-7776 or by email at\nsyndicate.toronto@scotiabank.com (mailto:syndicate.toronto@scotiabank.com) ,\nby providing the contact with an email address or address, as applicable.\n\nForward-looking statements\n\nThis news release contains certain forward-looking information and\nforward-looking statements (collectively, \"forward-looking statements\") within\nthe meaning of applicable securities laws. Forward-looking statements include,\nbut are not limited to, statements concerning expectations, beliefs, plans,\ngoals, objectives, assumptions and statements about possible future events,\nconditions, and results of operations or performance. Forward-looking\nstatements may contain statements with words or headings such as \"financial\nexpectations\", \"key assumptions\", \"anticipate\", \"believe\", \"expect\",\n\"project\", \"estimate\", \"forecast\", \"plan\", \"intend\", \"target\", \"will\",\n\"outlook\", \"guidance\", \"should\" or similar words suggesting future outcomes.\nThis news release contains forward-looking statements relating, but not\nlimited to, the intended use of proceeds from the Offering, including the\nrefinancing of outstanding indebtedness and the timing and completion of the\nproposed Offering.\n\nThe forward-looking statements that may be in this news release are based on\ncurrent expectations, estimates, projections and assumptions, having regard to\nCPKC's experience and its perception of historical trends, and include, but\nare not limited to, expectations, estimates, projections and assumptions\nrelating to: the anticipated closing of the Offering and expected use of\nproceeds; changes in business strategies; North American and global economic\ngrowth and conditions; commodity demand growth; sustainable industrial and\nagricultural production; commodity prices and interest rates; foreign exchange\nrates; core adjusted effective tax rates; performance of our assets and\nequipment; sufficiency of CPKC's budgeted capital expenditures in carrying out\nour business plan; geopolitical conditions; applicable laws, regulations and\ngovernment policies, including, without limitation, those relating to\nregulation of rates, tariffs, import/export, trade, taxes, wages, labour and\nimmigration; the availability and cost of labour, services and infrastructure;\nlabour disruptions; the satisfaction by third parties of their obligations to\nCPKC; and carbon markets, evolving sustainability strategies, and scientific\nor technological developments. Although CPKC believes the expectations,\nestimates, projections and assumptions reflected in the forward-looking\nstatements presented herein are reasonable as of the date hereof, there can be\nno assurance that they will prove to be correct. Current conditions, economic\nand otherwise, render assumptions, although reasonable when made, subject to\ngreater uncertainty.\n\nUndue reliance should not be placed on forward-looking statements as actual\nresults may differ materially from those expressed or implied by\nforward-looking statements. By their nature, CPKC's forward-looking statements\ninvolve inherent risks and uncertainties that could cause actual results to\ndiffer materially from the forward-looking statements, including, but not\nlimited to, the following factors: an inability to complete the Offering; the\nrisk that, notwithstanding our current intentions regarding the use of the net\nproceeds of the Offering, there may be circumstances where a reallocation of\nthe net proceeds may be necessary; changes in business strategies and\nstrategic opportunities; general Canadian, U.S., Mexican and global social,\neconomic, political, credit and business conditions; risks associated with\nagricultural production such as weather conditions and insect populations; the\navailability and price of energy commodities; the effects of competition and\npricing pressures, including competition from other rail carriers, trucking\ncompanies and maritime shippers in Canada, the U.S. and Mexico; North American\nand global economic growth and conditions; industry capacity; shifts in market\ndemand; changes in commodity prices and commodity demand; uncertainty\nsurrounding timing and volumes of commodities being shipped by CPKC;\ninflation; geopolitical instability; changes in laws, regulations and\ngovernment policies, including, without limitation, those relating to\nregulation of rates, tariffs, import/export, trade, wages, labour and\nimmigration; changes in taxes and tax rates; potential increases in\nmaintenance and operating costs; changes in fuel prices; disruption of fuel\nsupplies; uncertainties of investigations, proceedings or other types of\nclaims and litigation; compliance with environmental regulations; labour\ndisputes; changes in labour costs and labour difficulties; risks and\nliabilities arising from derailments; transportation of dangerous goods;\ntiming of completion of capital and maintenance projects; sufficiency of\nbudgeted capital expenditures in carrying out business plans; services and\ninfrastructure; the satisfaction by third parties of their obligations;\ncurrency and interest rate fluctuations; foreign exchange rates; effects of\nchanges in market conditions and discount rates on the financial position of\npension plans and investments; trade restrictions, including the imposition of\nany tariffs, or other changes to international trade arrangements; the effects\nof current and future multinational trade agreements on or other developments\naffecting the level of trade among Canada, the U.S. and Mexico; climate change\nand the market and regulatory responses to climate change; anticipated\nin-service dates; success of hedging activities; operational performance and\nreliability; customer, regulatory and other stakeholder approvals and support;\nregulatory and legislative decisions and actions; the adverse impact of any\ntermination or revocation by the Mexican government of Kansas City Southern de\nMéxico, S.A. de C.V.'s concession; public opinion; various events that could\ndisrupt operations, including severe weather, such as droughts, floods,\navalanches, volcanism and earthquakes, and cybersecurity attacks, as well as\nsecurity threats and governmental response to them, and technological changes;\nacts of terrorism, war or other acts of violence or crime or risk of such\nactivities; insurance coverage limitations; material adverse changes in\neconomic and industry conditions; the outbreak of a pandemic or contagious\ndisease and the resulting effects on economic conditions; the demand\nenvironment for logistics requirements and energy prices; restrictions imposed\nby public health authorities or governments; fiscal and monetary policy\nresponses by governments and financial institutions; disruptions to global\nsupply chains; the realization of anticipated benefits and synergies of the\nCP-KCS transaction and the timing thereof; the satisfaction of the conditions\nimposed by the U.S. Surface Transportation Board in its March 15, 2023\ndecision; the successful integration of Kansas City Southern (\"KCS\") into\nCPKC; the focus of management time and attention on the CP-KCS integration and\nother disruptions arising from the CP-KCS integration; estimated future\ndividends; financial strength and flexibility; debt and equity market\nconditions, including the ability to access capital markets on favourable\nterms or at all; cost of debt and equity capital; improvement in data\ncollection and measuring systems; industry-driven changes to methodologies;\nand the ability of the management of CPKC to execute key priorities, including\nthose in connection with the CP-KCS transaction. The foregoing list of factors\nis not exhaustive. These and other factors are detailed from time to time in\nreports filed by CPKC with securities regulators in Canada and the United\nStates. Reference should be made to \"Item 1A - Risk Factors\" and \"Item 7 -\nManagement's Discussion and Analysis of Financial Condition and Results of\nOperations - Forward-Looking Statements\" in CPKC's annual and interim reports\non Form 10-K and 10-Q. Any forward-looking statements contained in this news\nrelease are made as of the date hereof. Except as required by law, CPKC\nundertakes no obligation to update publicly or otherwise revise any\nforward-looking statements, or the foregoing assumptions and risks affecting\nsuch forward-looking statements, whether as a result of new information,\nfuture events or otherwise.\n\nAbout CPKC\nWith its global headquarters in Calgary, Alta., Canada, CPKC is the first and\nonly single-line transnational railway linking Canada, the United States and\nMéxico, with unrivaled access to major ports from Vancouver to Atlantic\nCanada to the Gulf Coast to Lázaro Cárdenas, México. Stretching\napproximately 20,000 route miles and employing approximately 20,000\nrailroaders, CPKC provides North American customers unparalleled rail service\nand network reach to key markets across the continent. CPKC is growing with\nits customers, offering a suite of freight transportation services, logistics\nsolutions and supply chain expertise. CP-IR\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/cpkc-announces-c1-8-billion-debt-offering-302892218.html\n(https://www.prnewswire.com/news-releases/cpkc-announces-c1-8-billion-debt-offering-302892218.html)\n\nSOURCE CPKC\n\n\n\nContacts: Media: mediarelations@cpkcr.com; Investment Community: Chris De Bruyn, 403-319-3591, investor@cpkcr.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1045662/CPKC-CPKC-announces-C-1-8-billion-debt-offering.jpg?id=OA2975567\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn2CH17a-20260929","title":"CPKC announces C$1.8 billion debt offering","author":"PR Newswire","ticker":"CP","created":"2026-09-29T03:00:44.323Z","tickers":["CP"],"exchange":"NYSE","article_body":"CPKC announces C$1.8 billion debt offering\nPR Newswire\n\nCALGARY, AB, Sept. 28, 2026\n\nThe shelf prospectus supplement, the corresponding base shelf prospectus and\nany amendment to the documents will be accessible through SEDAR+ within two\nbusiness days\n\nCALGARY, AB, Sept. 28, 2026 /PRNewswire/ -- Canadian Pacific Kansas City\nLimited (TSX: CP) (NYSE: CP) (\"CPKC\") announced that its wholly owned\nsubsidiary, Canadian Pacific Railway Company (\"CPRC\"), is issuing C$500\nmillion of 4.20% Notes due 2030, C$550 million of 4.60% Notes due\n2033, C$300 million of 4.90% Notes due 2037 and C$450\nmillion of 5.40% Notes due 2056, which will be guaranteed by CPKC (the\n\"Offering\").\n\nThe Offering is expected to close on October 6, 2026, subject to the\nsatisfaction of customary closing conditions.\n\nThe net proceeds from the Offering will be used primarily for the\nrefinancing of CPRC's outstanding indebtedness and for general corporate\npurposes. Until utilized for such purposes, the net proceeds may be invested\nin short-term investment grade securities, money market funds or bank\ndeposits.\n\nThe joint lead agents and joint active bookrunners for the Offering are CIBC\nWorld Markets Inc., BMO Nesbitt Burns Inc., RBC Capital Markets, and Scotia\nCapital Inc.\n\nThe Offering is being made in Canada under CPRC's base shelf\nprospectus dated March 6, 2025, as supplemented by the prospectus supplement\nin respect of the Offering dated September 28, 2026 (the \"Prospectus\").\n\nThe securities offered in the Offering have not been and will not be\nregistered under the U.S. Securities Act of 1933, as amended (the \"Securities\nAct\"), or any U.S. state securities laws, and may not be offered or sold in\nthe United States or to, or for the account or benefit of, U.S. persons (as\ndefined in Regulation S under the Securities Act) without registration or an\napplicable exemption from, or in a transaction not subject to, the\nregistration requirements of the Securities Act and applicable U.S. state\nsecurities laws. This press release does not constitute an offer to sell or\nthe solicitation of an offer to buy any securities nor shall there be any sale\nof these securities in any state or jurisdiction in which such an offer,\nsolicitation or sale would be unlawful.\n\nAccess to the Prospectus is provided in accordance with securities legislation\nrelating to procedures for providing access to a shelf prospectus supplement,\na base shelf prospectus and any amendment. The document will be accessible on\nSEDAR+ at www.sedarplus.ca (http://www.sedarplus.ca) .\n\nAn electronic or paper copy of the Prospectus and any amendment thereto may be\nobtained, without charge, from CIBC World Markets Inc. by phone at\n416-594-8515 or by email at mailbox.cibcdebtsyndication@cibc.com, from BMO\nNesbitt Burns Inc. by phone at 416-359-6359 or by email at\nDCMCADSyndicateDesk@bmo.com (mailto:DCMCADSyndicateDesk@bmo.com) , from RBC\nCapital Markets by phone at 416-842-6311 or by email at\ntorontosyndicate@rbccm.com (mailto:torontosyndicate@rbccm.com) , and from\nScotia Capital Inc. by phone at 416-863-7776 or by email at\nsyndicate.toronto@scotiabank.com (mailto:syndicate.toronto@scotiabank.com) ,\nby providing the contact with an email address or address, as applicable.\n\nForward-looking statements\n\nThis news release contains certain forward-looking information and\nforward-looking statements (collectively, \"forward-looking statements\") within\nthe meaning of applicable securities laws. Forward-looking statements include,\nbut are not limited to, statements concerning expectations, beliefs, plans,\ngoals, objectives, assumptions and statements about possible future events,\nconditions, and results of operations or performance. Forward-looking\nstatements may contain statements with words or headings such as \"financial\nexpectations\", \"key assumptions\", \"anticipate\", \"believe\", \"expect\",\n\"project\", \"estimate\", \"forecast\", \"plan\", \"intend\", \"target\", \"will\",\n\"outlook\", \"guidance\", \"should\" or similar words suggesting future outcomes.\nThis news release contains forward-looking statements relating, but not\nlimited to, the intended use of proceeds from the Offering, including the\nrefinancing of outstanding indebtedness and the timing and completion of the\nproposed Offering.\n\nThe forward-looking statements that may be in this news release are based on\ncurrent expectations, estimates, projections and assumptions, having regard to\nCPKC's experience and its perception of historical trends, and include, but\nare not limited to, expectations, estimates, projections and assumptions\nrelating to: the anticipated closing of the Offering and expected use of\nproceeds; changes in business strategies; North American and global economic\ngrowth and conditions; commodity demand growth; sustainable industrial and\nagricultural production; commodity prices and interest rates; foreign exchange\nrates; core adjusted effective tax rates; performance of our assets and\nequipment; sufficiency of CPKC's budgeted capital expenditures in carrying out\nour business plan; geopolitical conditions; applicable laws, regulations and\ngovernment policies, including, without limitation, those relating to\nregulation of rates, tariffs, import/export, trade, taxes, wages, labour and\nimmigration; the availability and cost of labour, services and infrastructure;\nlabour disruptions; the satisfaction by third parties of their obligations to\nCPKC; and carbon markets, evolving sustainability strategies, and scientific\nor technological developments. Although CPKC believes the expectations,\nestimates, projections and assumptions reflected in the forward-looking\nstatements presented herein are reasonable as of the date hereof, there can be\nno assurance that they will prove to be correct. Current conditions, economic\nand otherwise, render assumptions, although reasonable when made, subject to\ngreater uncertainty.\n\nUndue reliance should not be placed on forward-looking statements as actual\nresults may differ materially from those expressed or implied by\nforward-looking statements. By their nature, CPKC's forward-looking statements\ninvolve inherent risks and uncertainties that could cause actual results to\ndiffer materially from the forward-looking statements, including, but not\nlimited to, the following factors: an inability to complete the Offering; the\nrisk that, notwithstanding our current intentions regarding the use of the net\nproceeds of the Offering, there may be circumstances where a reallocation of\nthe net proceeds may be necessary; changes in business strategies and\nstrategic opportunities; general Canadian, U.S., Mexican and global social,\neconomic, political, credit and business conditions; risks associated with\nagricultural production such as weather conditions and insect populations; the\navailability and price of energy commodities; the effects of competition and\npricing pressures, including competition from other rail carriers, trucking\ncompanies and maritime shippers in Canada, the U.S. and Mexico; North American\nand global economic growth and conditions; industry capacity; shifts in market\ndemand; changes in commodity prices and commodity demand; uncertainty\nsurrounding timing and volumes of commodities being shipped by CPKC;\ninflation; geopolitical instability; changes in laws, regulations and\ngovernment policies, including, without limitation, those relating to\nregulation of rates, tariffs, import/export, trade, wages, labour and\nimmigration; changes in taxes and tax rates; potential increases in\nmaintenance and operating costs; changes in fuel prices; disruption of fuel\nsupplies; uncertainties of investigations, proceedings or other types of\nclaims and litigation; compliance with environmental regulations; labour\ndisputes; changes in labour costs and labour difficulties; risks and\nliabilities arising from derailments; transportation of dangerous goods;\ntiming of completion of capital and maintenance projects; sufficiency of\nbudgeted capital expenditures in carrying out business plans; services and\ninfrastructure; the satisfaction by third parties of their obligations;\ncurrency and interest rate fluctuations; foreign exchange rates; effects of\nchanges in market conditions and discount rates on the financial position of\npension plans and investments; trade restrictions, including the imposition of\nany tariffs, or other changes to international trade arrangements; the effects\nof current and future multinational trade agreements on or other developments\naffecting the level of trade among Canada, the U.S. and Mexico; climate change\nand the market and regulatory responses to climate change; anticipated\nin-service dates; success of hedging activities; operational performance and\nreliability; customer, regulatory and other stakeholder approvals and support;\nregulatory and legislative decisions and actions; the adverse impact of any\ntermination or revocation by the Mexican government of Kansas City Southern de\nMéxico, S.A. de C.V.'s concession; public opinion; various events that could\ndisrupt operations, including severe weather, such as droughts, floods,\navalanches, volcanism and earthquakes, and cybersecurity attacks, as well as\nsecurity threats and governmental response to them, and technological changes;\nacts of terrorism, war or other acts of violence or crime or risk of such\nactivities; insurance coverage limitations; material adverse changes in\neconomic and industry conditions; the outbreak of a pandemic or contagious\ndisease and the resulting effects on economic conditions; the demand\nenvironment for logistics requirements and energy prices; restrictions imposed\nby public health authorities or governments; fiscal and monetary policy\nresponses by governments and financial institutions; disruptions to global\nsupply chains; the realization of anticipated benefits and synergies of the\nCP-KCS transaction and the timing thereof; the satisfaction of the conditions\nimposed by the U.S. Surface Transportation Board in its March 15, 2023\ndecision; the successful integration of Kansas City Southern (\"KCS\") into\nCPKC; the focus of management time and attention on the CP-KCS integration and\nother disruptions arising from the CP-KCS integration; estimated future\ndividends; financial strength and flexibility; debt and equity market\nconditions, including the ability to access capital markets on favourable\nterms or at all; cost of debt and equity capital; improvement in data\ncollection and measuring systems; industry-driven changes to methodologies;\nand the ability of the management of CPKC to execute key priorities, including\nthose in connection with the CP-KCS transaction. The foregoing list of factors\nis not exhaustive. These and other factors are detailed from time to time in\nreports filed by CPKC with securities regulators in Canada and the United\nStates. Reference should be made to \"Item 1A - Risk Factors\" and \"Item 7 -\nManagement's Discussion and Analysis of Financial Condition and Results of\nOperations - Forward-Looking Statements\" in CPKC's annual and interim reports\non Form 10-K and 10-Q. Any forward-looking statements contained in this news\nrelease are made as of the date hereof. Except as required by law, CPKC\nundertakes no obligation to update publicly or otherwise revise any\nforward-looking statements, or the foregoing assumptions and risks affecting\nsuch forward-looking statements, whether as a result of new information,\nfuture events or otherwise.\n\nAbout CPKC\nWith its global headquarters in Calgary, Alta., Canada, CPKC is the first and\nonly single-line transnational railway linking Canada, the United States and\nMéxico, with unrivaled access to major ports from Vancouver to Atlantic\nCanada to the Gulf Coast to Lázaro Cárdenas, México. Stretching\napproximately 20,000 route miles and employing approximately 20,000\nrailroaders, CPKC provides North American customers unparalleled rail service\nand network reach to key markets across the continent. CPKC is growing with\nits customers, offering a suite of freight transportation services, logistics\nsolutions and supply chain expertise. CP-IR\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/cpkc-announces-c1-8-billion-debt-offering-302892218.html\n(https://www.prnewswire.com/news-releases/cpkc-announces-c1-8-billion-debt-offering-302892218.html)\n\nSOURCE CPKC\n\n\n\nContacts: Media: mediarelations@cpkcr.com; Investment Community: Chris De Bruyn, 403-319-3591, investor@cpkcr.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1045662/CPKC-CPKC-announces-C-1-8-billion-debt-offering.jpg?id=OA2975567\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-09-29T03:00:44.400279654Z","server_sent_at_ms":1790650844400},"received_at":"2026-09-29T03:00:44.474Z","source_url":"https://www.prnewswire.com/news-releases/cpkc-announces-c1-8-billion-debt-offering-302892218.html"},"analysis":{"id":"143478","press_release_id":"154721","analysis_json":{"industry":{"label":"Ground Transportation","sector":"Industrials"},"redFlags":[],"eventType":"debt_offering","narrative":"CPKC announced a C$1.8 billion debt offering through subsidiary Canadian Pacific Railway Company, guaranteed by CPKC, across four tranches maturing 2030 through 2056 with coupons from 4.20% to 5.40%.\n\nNet proceeds will primarily refinance CPRC's outstanding indebtedness, with remainder for general corporate purposes; the deal is expected to close October 6, 2026.\n\nCIBC World Markets, BMO Nesbitt Burns, RBC Capital Markets, and Scotia Capital are joint lead agents; the offering was made in Canada under a base shelf prospectus and is not registered in the U.S.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine refinancing issuance -- curve out to 2056 at 5.40% is the only detail worth noting for rate watchers."},"keyFigures":{"dealValueUsd":"C$1.8 billion","customDimensions":{"tranches":["C$500 million 4.20% Notes due 2030","C$550 million 4.60% Notes due 2033","C$300 million 4.90% Notes due 2037","C$450 million 5.40% Notes due 2056"],"closingDate":"2026-10-06"}},"namedEntities":{"people":[],"products":[],"companies":[{"name":"Canadian Pacific Kansas City Limited","ticker":"CP","relationship":"guarantor/filer"},{"name":"Canadian Pacific Railway Company","relationship":"issuer subsidiary"},{"name":"CIBC World Markets Inc.","relationship":"lead agent/bookrunner"},{"name":"BMO Nesbitt Burns Inc.","relationship":"lead agent/bookrunner"},{"name":"RBC Capital Markets","relationship":"lead agent/bookrunner"},{"name":"Scotia Capital Inc.","relationship":"lead agent/bookrunner"}],"dollarAmounts":[{"amount":"C$1.8 billion","context":"total debt offering size"},{"amount":"C$500 million","context":"4.20% Notes due 2030 tranche"},{"amount":"C$550 million","context":"4.60% Notes due 2033 tranche"},{"amount":"C$300 million","context":"4.90% Notes due 2037 tranche"},{"amount":"C$450 million","context":"5.40% Notes due 2056 tranche"}]},"materialImpact":{"score":2,"reasoning":"Routine C$1.8B investment-grade debt issuance by a subsidiary, primarily to refinance existing indebtedness. No change in leverage profile or strategy disclosed."},"tickerRelevance":{"others":[],"primary":"CP"},"globalImportance":22,"audienceRelevance":20,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large-cap","eventGravity":"routine-debt-refinancing","marketCapAdjustment":"large-cap rail but standard shelf issuance"}},"event_type":"debt_offering","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"CPKC announced a C$1.8 billion debt offering through subsidiary Canadian Pacific Railway Company, guaranteed by CPKC, across four tranches maturing 2030 through 2056 with coupons from 4.20% to 5.40%.\n\nNet proceeds will primarily refinance CPRC's outstanding indebtedness, with remainder for general corporate purposes; the deal is expected to close October 6, 2026.\n\nCIBC World Markets, BMO Nesbitt Burns, RBC Capital Markets, and Scotia Capital are joint lead agents; the offering was made in Canada under a base shelf prospectus and is not registered in the U.S.","key_figures":{"dealValueUsd":"C$1.8 billion","customDimensions":{"tranches":["C$500 million 4.20% Notes due 2030","C$550 million 4.60% Notes due 2033","C$300 million 4.90% Notes due 2037","C$450 million 5.40% Notes due 2056"],"closingDate":"2026-10-06"}},"named_entities":{"people":[],"products":[],"companies":[{"name":"Canadian Pacific Kansas City Limited","ticker":"CP","relationship":"guarantor/filer"},{"name":"Canadian Pacific Railway Company","relationship":"issuer subsidiary"},{"name":"CIBC World Markets Inc.","relationship":"lead agent/bookrunner"},{"name":"BMO Nesbitt Burns Inc.","relationship":"lead agent/bookrunner"},{"name":"RBC Capital Markets","relationship":"lead agent/bookrunner"},{"name":"Scotia Capital Inc.","relationship":"lead agent/bookrunner"}],"dollarAmounts":[{"amount":"C$1.8 billion","context":"total debt offering size"},{"amount":"C$500 million","context":"4.20% Notes due 2030 tranche"},{"amount":"C$550 million","context":"4.60% Notes due 2033 tranche"},{"amount":"C$300 million","context":"4.90% Notes due 2037 tranche"},{"amount":"C$450 million","context":"5.40% Notes due 2056 tranche"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-29T03:00:51.402Z","global_importance":22,"audience_relevance":20,"importance_components":{"tickerTier":"large-cap","eventGravity":"routine-debt-refinancing","marketCapAdjustment":"large-cap rail but standard shelf issuance"}},"durationMs":6911,"modelName":"glm-5.3-flashx"}}