 Bennett JonesClient Work CPKC Closes US$1.2 Billion Debt OfferingMarch 13, 2026 Authors Harinder S. BasraCalgary Managing Partner Rebecca BurnandAssociate Hayden LoganAssociate Anu NijhawanPartner Karen J. DawsonPartner Canadian Pacific Kansas City Limited (TSX: CP; NYSE: CP) announced that its wholly-owned subsidiary, Canadian Pacific Railway Company, has issued US$600 million of 4.000% Notes due 2029 and US$600 million of 5.500% Notes due 2056, which will be guaranteed by CPKC. The offering closed on March 6, 2026. The net proceeds from the offering will be used primarily for the refinancing of outstanding indebtedness and for general corporate purposes. Bennett Jones acted as Canadian counsel to Canadian Pacific Railway. The team was led by Harinder S. Basra, with Rebecca Burnand and Hayden Logan (Capital Markets), Anu Nijhawan (Tax) and Karen J. Dawson (Banking & Secured Transactions). Republishing Requests For permission to republish this or any other publication, contact Bryan Canning at canningb@bennettjones.com. For informational purposes only This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors. AuthorsHarinder S. Basra, Calgary Managing Partner • Co-Head of Energy Practice Calgary • 403.298.4494 • basrah@bennettjones.com Rebecca Burnand, Associate Calgary • 403.298.3321 • burnandr@bennettjones.com Hayden Logan, Associate Calgary • 403.298.3017 • loganh@bennettjones.com Anu Nijhawan, Partner • Co-Head of Tax Department Calgary • 403.298.3389 • nijhawana@bennettjones.com Karen J. Dawson, Partner • Co-Head of Banking & Secured Transactions Practice Calgary • 403.298.3302 • dawsonk@bennettjones.com |