Wednesday, May 18, 2011

Norfolk Southern Selling $250 Million In 100-Year Bonds - Source

(Dow Jones) Railroad giant Norfolk Southern Corp., is back in the market with a 100-year bond Wednesday, according to an investor familiar with the transaction.
The $250 million offering mirrors a similarly sized "century" bond the Norfolk, Va.-based company completed in August last year. Before that, its most recent century bonds were in 2005 and 1997. ... Companies issuing ultra-long-dated debt are looking for ways to fund themselves cheaply at low interest rates now because they expect rates to rise. Continued

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