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NEW YORK - Canadian Pacific Railway Ltd., a Canadian freight railroad operator, on Friday said its subsidiary Canadian Pacific Railway Co. will issue $375 million Canadian ($381 million) in notes.
| CP | 28.64 |  0.36 |
The 6.25 percent notes are due June 1, 2018.
The offer is expected to close May 28.
Net proceeds will be used to repay debt and fund the acquisition of Dakota, Minnesota & Easter Railroad, which the company bought in 2007.
The debt offering is being made in Canada under a previously filed base shelf prospectus dated June 1.
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