Deflationspotting: Norfolk Southern To Issue $100 Million In 100-Year Debt
Deflation is now officially the norm, as Norfolk Southern prepares to issue $100 Million in 100 Year bonds. Hope you have drank your vitamins and wait to receive proceeds at maturity... in 2105. And just in case you were worried there is no benchmark security to reference these to, don't worry, the US government is likely about to start issuing a 100 Year UST soon (with perpetuals to follow).
Norfolk Southern Corp. may sell $100 million of bonds due in 2105 in a reopening of an earlier offering of 100-year debt, according to a person familiar with the transaction.
The bonds may be sold as soon as today, according to the person, who declined to be identified because terms aren’t set.