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CN Rail Files Shelf Prospectus With Securities Regulators

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-- Canadian National Railway (CNR.TO), down 6% on last look, filed a shelf prospectus with Canadian securities regulators, the company said on Wednesday.

The prospectus allows CN to issue debt securities in Canadian markets over the next 37 months, and replaces CN's previous shelf prospectus that expires on May 3.

Proceeds from the sale of securities may be used to pay down debt, share repurchases, acquisitions and other business opportunities.

A registration statement has been filed with the U.S. Securities and Exchange Commission but has not yet become effective.

CN Rail shares were last seen down $9.46 to $147.90 on the Toronto Stock Exchange.

Price: $147.84, Change: $-9.52, Percent Change: -6.05%

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