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News Feb 20, 2018

CSX Corporation’s $2 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 $800 million of its 3.8% notes due 2028, $850 million of its 4.3% notes due 2048 and $350 million of its 4.65% notes due 2068.   

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 proceeds of the offering will be used for general corporate purposes, which may include repurchases of CSX’s common stock, capital investment, working capital requirements, improvements in productivity and other cost reductions at CSX’s major transportation units.

The Shearman & Sterling team below was supported by associates Taylor Montgomery and Esam Ibrahim (both New York–General Practice).

The Team