Davis Polk advised CSX Corporation on its SEC-registered offering of $1 billion aggregate principal amount of senior notes. The offering consisted of $550 million aggregate principal amount of 3.4% notes due 2024 and $450 million aggregate principal amount of 4.5% notes due 2054. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book-running managers for the offering.

CSX, based in Jacksonville, Florida, is one of the nation’s leading transportation companies. The company provides rail-based transportation services, including traditional rail service and the transport of intermodal containers and trailers. CSX’s principal operating subsidiary, CSX Transportation, Inc., provides an important link to the transportation supply chain through its approximately 21,000 route mile rail network, which serves major population centers in 23 states east of the Mississippi River, the District of Columbia and the Canadian provinces of Ontario and Quebec. 

The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associates Peter E. Devlin and Ravi P. Ramchandani. The tax team included partner Harry Ballan and associate Adam Bedzow. Counsel Betty Moy Huber provided environmental advice. Associate Jake H. Wang provided Investment Company Act advice. All members of the Davis Polk team are based in the New York office.