CPKC Announces Major Debt Offering

CALGARY, AB, Sept. 28, 2026 /CourierPR/ -- Canadian Pacific Kansas City Limited (CPKC) has announced that its wholly owned subsidiary, Canadian Pacific Railway Company (CPRC), is set to issue a significant debt offering. The company plans to issue C$500 million of 4.20% Notes due 2030, C$550 million of 4.60% Notes due 2033, C$300 million of 4.90% Notes due 2037, and C$450 million of 5.40% Notes due 2056. These notes will be guaranteed by CPKC.

The debt offering is expected to close on October 6, 2026, subject to the satisfaction of customary closing conditions. The net proceeds from this offering will primarily be used for the refinancing of CPRC's outstanding indebtedness and for general corporate purposes. Until utilized for these purposes, the net proceeds may be invested in short-term investment grade securities, money market funds, or bank deposits.

The joint lead agents and joint active bookrunners for the Offering are CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Capital Markets, and Scotia Capital Inc. The Offering is being made in Canada under CPRC's base shelf prospectus dated March 6, 2025, as supplemented by the prospectus supplement in respect of the Offering dated September 28, 2026 (the "Prospectus").

CPKC notes that the securities offered in the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any U.S. state securities laws. Therefore, they may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) without registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws.

The Prospectus will be accessible on SEDAR+ at www.sedarplus.ca. Interested parties can obtain an electronic or paper copy of the Prospectus and any amendment thereto by contacting the joint lead agents and joint active bookrunners listed above.

CPKC, with its global headquarters in Calgary, Alta., Canada, is the first and only single-line transnational railway linking Canada, the United States, and México. Stretching approximately 20,000 route miles and employing approximately 20,000 railroaders, CPKC provides North American customers with unparalleled rail service and network reach to key markets across the continent.