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News Nov 18, 2019

Kansas City Southern’s $850 Million Notes Offering

Shearman & Sterling represented BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as lead joint book-running managers, in connection with an offering by Kansas City Southern (KCS) of $425 million of its 2.875% senior notes due 2029 and $425 million of its 4.200% senior notes due 2069. KCS intends to use the net proceeds from the offering to make payments under its accelerated share repurchase agreements, to redeem all, or a portion of, KCS’s and its wholly owned subsidiary Kansas City Southern de México, S.A. de C.V.’s 2.35% senior notes due 2020 and for general corporate purposes. 

KCS is a Delaware transportation holding company with domestic and international rail operations in North America that are strategically focused on the growing north/south freight corridor connecting key commercial and industrial markets in the central United States with major industrial cities in Mexico.

The Shearman & Sterling team below was supported by visiting associate Sofia Gallo.

The Team