13 Nov 2025

Canadian National Railway $700 Million Notes Offering

"Davis Polk advised Canadian National Railway Company on a registered public offering of $700 million aggregate principal amount of notes: $300 million of 4.200% notes due 2031 and $400 million of 4.750% notes due 2035. The notes were offered under the Multijurisdictional Disclosure System for U.S. and Canadian issuers adopted by the SEC."

Davis Polk represented Canadian National Railway Company (CN) in a registered public offering of notes. The transaction consisted of a registered public offering by Canadian National Railway Company of $700 million aggregate principal amount of notes, comprising $300 million aggregate principal amount of 4.200% notes due 2031 and $400 million aggregate principal amount of 4.750% notes due 2035. The notes were offered under the Multijurisdictional Disclosure System for U.S. and Canadian issuers adopted by the U.S. Securities and Exchange Commission. Canadian National transports more than 300 million tons of natural resources, manufactured products and finished goods throughout North America annually. CN’s network connects Canada’s eastern and western coasts with the U.S. Midwest and the U.S. Gulf Coast via a nearly 20,000-mile rail network. Davis Polk represented Canadian National Railway Company with a team composed by: partner John B. Meade (corporate); counsel Alain Kuyumjian (corporate); associates Matt Meagher and Muxuan (Muriel) Wang (corporate); partner Kara L. Mungovan (tax); associate Alex (Ang) Gao (tax); counsel Sarah E. Kim (1940 Act advice); and associate Caleb Beavers (1940 Act). Members of the Davis Polk team are based in the New York and London offices.
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