KANSAS CITY SOUTHERN INDUSTRIES PLANS PUBLIC OFFERINGS
Kansas City Southern Industries Inc. said it plans concurrent public offerings of $115 million of mandatory convertible units and 4 million shares of common stock.
Anticipated proceeds from the offerings, expected to be issued in June, will be applied to reduce existing bank debt.
KCSI is a transportation holding company whose primary subsidiary, The Kansas City Southern Railway Company is one of eight U.S. Class I railroads. The company also owns a number of other railways that form a combined rail network comprising 6,000 miles of rail lines in the United States and Mexico.