The investment-grade notes offering consists of two tranches

Davis Polk advised the joint book-running managers and representatives of the underwriters on a registered public offering by Canadian National Railway Company (CN) of $800 million aggregate principal amount of its 3.850% notes due 2032 and $700 million aggregate principal amount of its 4.400% notes due 2052. CN offered the notes under the Multijurisdictional Disclosure System for United States and Canadian issuers adopted by the SEC.

Based in Montréal, Québec, CN transports more than C$250 billion worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network spanning Canada and mid-America, with port connections to various points in North America.

The Davis Polk corporate team included partner John B. Meade, counsel Alain Kuyumjian and associates Tomer Magid and Robert MacKenzie. Partner Mario J. Verdolini and associate Benjamin Helfgott provided tax advice. All members of the Davis Polk team are based in the New York office.