Shearman And Sterling

News September 12, 2019

CSX Corporation’s $1 Billion Notes Offering

Shearman & Sterling represented the underwriters led by Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC in connection with CSX Corporation’s public offering of $400 million of its 2.400 percent notes due 2030 and $600 million of its 3.350 percent notes due 2049.

Proceeds of the offering will be used to fully redeem CSX’s outstanding 3.700 percent notes due October 30, 2020 and for general corporate purposes, which may include repurchases of the company’s common stock, capital investment, working capital requirements, improvements in productivity and other cost reductions at CSX’s major transportation units.

CSX Corporation is one of the nation’s leading transportation companies. The company provides traditional rail service, the transport of intermodal containers and trailers, as well as other transportation services such as rail-to-truck transfers and bulk commodity operations.

The Team