CSX $2 billion senior notes offering

Davis Polk advised CSX Corporation on its SEC-registered offering of $2 billion aggregate principal amount of senior notes. The offering consisted of $950 million aggregate principal amount of 4.100% notes due 2032, $900 million aggregate principal amount of 4.500% notes due 2052 and a reopening of $150 million aggregate principal amount of the Company’s existing 4.650% notes due 2068.

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.

The Davis Polk corporate team included partner Shane Tintle and associates Moses Farzan Nekou and Sarah Greene. The tax team included partner Po Sit and associate Liang Zhang. Counsel David A. Zilberberg provided environmental advice. Counsel Matthew R. Silver provided Investment Company Act advice. All members of the Davis Polk team are based in the New York office.