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 23, 2017
Event: Entry into a Material Definitive Agreement (Fourth Amending Agreement to the Credit Agreement dated September 26, 2014).
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, or liquidity ratios. The document focuses exclusively on the amendment of debt terms.
Debt Instrument Details:
- Original Credit Agreement Date: September 26, 2014
- Administrative Agent: Royal Bank of Canada
- Borrower: Canadian Pacific Railway Company
- Covenantor: Canadian Pacific Railway Limited
Material Changes
The Fourth Amending Agreement modifies the maturity schedule of the existing Credit Agreement as follows:
- 5 Year Maturity Date: Extended from June 28, 2021, to June 28, 2022.
- Term Out Date: Extended from June 28, 2017, to June 27, 2018.
Guidance, Outlook, and Risks
The filing does not provide management commentary, financial guidance, or specific risk factors beyond the standard disclosure that the description of the agreement is qualified by reference to the full text of the agreement filed as Exhibit 10.1. No unusual items or contingencies are disclosed in the body of this report.
Investor Verification Checklist
- Review the full text of the Fourth Amending Agreement (Exhibit 10.1) for specific interest rate adjustments, fees, or covenant changes not summarized in the 8-K.
- Verify the total outstanding principal balance under the Credit Agreement to assess the impact of the maturity extension on the company's debt maturity profile.
- Confirm whether the extension of the Term Out Date affects the company's ability to access additional liquidity under the facility.