Canadian National Railway Company (CNR) issued senior unsecured notes valued at approximately $1.25 billion. The offering consisted of 4.600% notes due May 2, 2029, priced at 99.850% for a total of $698.95 million, and 5.100% notes due May 2, 2054, priced at 99.756% for a total of $548.66 million. The notes are redeemable at the company's option and are payable semi-annually. The proceeds, net of agents' fees, were $696.5 million and $545.91 million, respectively.

The offering was managed on a best-efforts basis by a syndicate of agents, including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., and others. Legal counsel for CNR was provided by Stikeman Elliott LLP, while Norton Rose Fulbright Canada LLP represented the agents. The notes were issued on May 2, 2024, with certificates held by CDS Clearing and Depository Services Inc. The company’s common shares are traded on the Toronto Stock Exchange under the symbol "CNR" and on the New York Stock Exchange under "CNI."