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 29, 2016 (Event Date: June 28, 2016)
Context: The registrant entered into a Third Amending Agreement regarding its existing credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or specific debt balances. It focuses exclusively on the amendment of debt maturity terms.
- Credit Agreement: Dated September 26, 2014 (as previously amended).
- Administrative Agent: Royal Bank of Canada.
- Borrower: Canadian Pacific Railway Company.
- Covenantor: Canadian Pacific Railway Limited.
Material Changes Versus Prior Period
The filing details a material change to the terms of the Credit Agreement via the Third Amending Agreement:
- 5 Year Maturity Date: Extended from September 26, 2020, to June 28, 2021.
- Term Out Date: Extended from September 23, 2016, to June 28, 2017.
Guidance, Outlook, and Risks
Management Commentary: The filing provides no forward-looking guidance, outlook, or management commentary regarding operational performance or future financial projections.
Risks and Contingencies: No specific risks or contingencies are disclosed in this text, other than the standard reference that the description of the agreement is qualified by the full text of the Third Amending Agreement filed as Exhibit 10.1.
Unusual Items: None reported.
Investor Verification Checklist
- Review Exhibit 10.1 (Third Amending Agreement) for full terms, covenants, and interest rate implications.
- Verify the impact of the extended maturity dates on the company's liquidity profile and debt repayment schedule.
- Confirm if any fees or costs were incurred to execute this amendment (not detailed in the summary text).