CALGARY, Sept. 26, 2011 /CNW/ - Canadian Pacific Railway Limited (TSX:
CP) (NYSE: CP) today announced that its wholly-owned subsidiary, CPRH
Canada Inc., is extending the period during which holders who tender
their 6.25% Notes due 2011 of Canadian Pacific Railway Company will
receive the consent payment of US$2.50 per US$1,000 principal amount of
notes (in addition to the principal amount and accrued and unpaid
interest) to 11:59 p.m., New York City time, on October 11, 2011, the
expiration date of the tender offer and consent solicitation. The
settlement date remains unchanged and is expected to occur on or about
October 12, 2011. Under the terms of the tender offer, holders who have
tendered their notes to date can no longer validly withdraw such notes.
CPRH Canada Inc., however, reserves the right to further amend,
terminate or withdraw the tender offer and consent solicitation,
subject to applicable laws.
Notes not tendered and purchased pursuant to the tender offer will
remain outstanding until paid by Canadian Pacific Railway Company on
the stated maturity date of October 15, 2011.
CPRH Canada Inc. has retained Citi to act as Dealer Manager and
Solicitation Agent in connection with the tender offer and consent
solicitation. Questions about the tender offer and consent solicitation
may be directed to Citi at (800)558-3745 (toll free). Copies of the
tender offer documents and other related documents may be obtained from
Global Bondholder Services Corporation, the information agent for the
tender offer and consent solicitation, at (866)470-3700 (toll free).
The tender offer and consent solicitation is being made solely by means
of the tender offer documents. Under no circumstances shall this press
release constitute an offer to purchase or the solicitation of an offer
to sell the Notes or any other securities of CP, Canadian Pacific
Railway Company or CPRH Canada Inc. It also is not a solicitation of
consents to the proposed amendment to the indenture. No recommendation
is made as to whether holders of the Notes should tender their Notes or
give their consent.
Note on forward-looking information
This news release contains certain forward-looking statements relating
but not limited to terms and timing of the tender offer and consent
solicitation. Undue reliance should not be placed on forward-looking
information as actual results may differ materially.
By its nature, CP's forward-looking information involves numerous
assumptions, inherent risks and uncertainties, including but not
limited to the following factors: changes in business strategies;
general North American and global economic, credit and business
conditions; risks in agricultural production such as weather conditions
and insect populations; the availability and price of energy
commodities; the effects of competition and pricing pressures; industry
capacity; shifts in market demand; changes in laws and regulations,
including regulation of rates; changes in taxes and tax rates;
potential increases in maintenance and operating costs; uncertainties
of litigation; labour disputes; risks and liabilities arising from
derailments; transportation of dangerous goods; timing of completion of
capital and maintenance projects; currency and interest rate
fluctuations; effects of changes in market conditions and discount
rates on the financial position of pension plans and investments,
including long-term floating rate notes; and various events that could
disrupt operations, including severe weather conditions, security
threats and governmental response to them, and technological changes.
Except as required by law, CP undertakes no obligation to update
publicly or otherwise revise any forward-looking information, whether
as a result of new information, future events or otherwise.
About Canadian Pacific
Canadian Pacific (CP:TSX)(NYSE: CP) operates a North American
transcontinental railway providing freight transportation services,
logistics solutions and supply chain expertise. Incorporating
best-in-class technology and environmental practices, CP is re-defining
itself as a modern 21st century transportation company built on safety,
service reliability and operational efficiency. Visit cpr.ca and see
how Canadian Pacific is Driving the Digital Railway.
SOURCE Canadian Pacific
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