Norfolk Southern (NSC) has released an update to notify the public and investors about its financial commitment initiation.
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On January 26, 2024, Norfolk Southern Corporation secured new financial agreements including a $800 million unsecured revolving credit facility over five years and a $1,000 million unsecured delayed draw term loan facility for 364 days. The agreements involve various financial institutions with Wells Fargo Bank and Bank of America as key administrative agents among others. The facilities are intended for refinancing existing agreements, covering related fees and expenses, and for general corporate purposes, with interest rates based on Base Rate or Adjusted Term SOFR and contain standard covenants including leverage ratio limits and restrictions on subsidiary debt.
For further insights into NSC financials, check out TipRanks’ Financials page.
