CN extends $1 billion credit facility
Canadian National Railway Co. said Tuesday it has successfully refinanced, by way of amendment, its $1 billion revolving credit facility for a five-year period with an international banking syndicate led by BMO Nesbitt Burns Inc.
CN said the credit facility is available for working capital and general corporate purposes, including back-stopping the company’s commercial paper program. It contains customary terms and conditions and extends to March 2010 the current credit facility, which was scheduled to expire in December.