Canadian Pacific Kansas City Ltd Announces CAD$1.8B Canadian Bond Offering

What Happened Canadian Pacific Kansas City Limited filed an 8-K on Sept. 29, 2026, announcing that its wholly-owned subsidiary, Canadian Pacific Railway Company, is conducting a Canadian offering of notes totaling CAD$1.8 billion. The offering consists of CAD$500M 4.20% notes due 2030, CAD$550M 4.60% notes due 2033, CAD$300M 4.90% notes due 2037 and CAD$450M 5.40% notes due 2056. The notes will be guaranteed by the parent company and the closing is expected on October 6, 2026, subject to customary conditions.

Key Details

• Issuer: Canadian Pacific Railway Company (wholly owned subsidiary); guaranteed by Canadian Pacific Kansas City Limited.
• Size & coupons: CAD$500M at 4.20% (2030), CAD$550M at 4.60% (2033), CAD$300M at 4.90% (2037), CAD$450M at 5.40% (2056).
• Expected close date: October 6, 2026 (subject to customary closing conditions).
• U.S. offering limitations: These securities are not registered under the U.S. Securities Act and may not be offered or sold in the U.S. or to U.S. persons except under an applicable exemption.

Why It Matters This is a sizeable debt offering that will affect the company’s and its subsidiary’s outstanding debt profile and liquidity position. Investors should note the offering is being done in Canada and is not registered for U.S. resale, which limits availability to U.S. investors. The filing is informational—no use of proceeds were specified in the 8-K—and the press release announcing the offering is attached as Exhibit 99.1.