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Canadian National Railway to raise C$800M debt

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Canadian National Railway to raise C$800M debt

Canadian National Railway Co. intends to raise C$800 million via a two-tranche debt offering.

The offering comprises C$350 million 3.20% notes due 2028 and C$450 million 3.60% notes due 2048. It is expected to close July 31, subject to customary closing conditions.

CN intends to use net proceeds from the offering for general corporate purposes, including the redemption and refinancing of outstanding debt and share repurchases.