Business Context and Reporting Period
Company: Canadian Pacific Railway Limited (and its wholly owned subsidiary, Canadian Pacific Railway Company)
Filing Type: Form 8-K (Current Report)
Date of Report: June 8, 2018
Event: Entry into a Material Definitive Agreement (Fifth Amending Agreement to the Credit Agreement dated September 26, 2014).
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, or liquidity metrics. It is a disclosure of a specific contractual amendment regarding debt maturity.
Debt Instrument Details:
- Agreement: Fifth Amending Agreement to the Credit Agreement.
- Borrower: Canadian Pacific Railway Company.
- Covenantor: Canadian Pacific Railway Limited.
- Administrative Agent: Royal Bank of Canada.
Material Changes Versus Prior Period
The primary material change disclosed is the extension of the debt maturity timeline:
- 5-Year Maturity Date: Extended from June 28, 2022, to June 28, 2023.
- Term Out Date: Remains unchanged at June 27, 2018.
Guidance, Outlook, and Risks
Management Commentary: The filing provides no forward-looking guidance, outlook, or management commentary beyond the description of the agreement amendment.
Risks and Contingencies: No specific risks or contingencies are detailed in this text. The filing notes that the description of the agreement is qualified in its entirety by reference to the full text of the Fifth Amending Agreement (Exhibit 10.1).
Investor Verification Checklist
- Verify the full terms of the Fifth Amending Agreement in Exhibit 10.1 to understand any changes to interest rates, covenants, or fees not summarized in the 8-K.
- Confirm the impact of the extended maturity date on the company's long-term debt schedule and refinancing needs.
- Review the status of the "Term Out Date" of June 27, 2018, to understand immediate liquidity requirements or obligations associated with that specific date.