Canadian Pacific Railway Completes $510M Cross-border Equity Offering

On February 11, 2008 Canadian Pacific Railway Limited completed a public offering of common shares in Canada and the US for gross proceeds of $510,825,000, which was underwritten by a syndicate led by Scotia Capital Inc., RBC Dominion Securities Inc. and Morgan Stanley Canada Ltd.

Canadian Pacific Railway Limited was represented in-house by Don Barnhardt; in Canada by Macleod Dixon LLP with a team that included Kevin Johnson, Don Tse, Kathleen Cowick and Candace Herman; and in the United States by Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team that included Andrew Foley, David Huntington and Stanislav Grigoryev.

The underwriters were represented in Canada by Blake, Cassels & Graydon LLP with a team that included Pat Finnerty, Ross Bentley, Jeffrey Bakker and Randy Bauslaugh and in the United States by Shearman & Sterling LLP with a team that included Christopher Cummings, Stephen Centra and Adam Lewinberg.

Lawyer(s)

Kevin E. Johnson Christopher J. Cummings Pat C. Finnerty David S. Huntington Jeffrey Bakker Randy V. Bauslaugh Andrew J. Foley Candace T. Herman Donald F. Barnhardt Kathleen Cowick Ross Bentley Don Tse

Firm(s)

Norton Rose Fulbright Canada LLP Paul, Weiss, Rifkind, Wharton & Garrison LLP Blake, Cassels & Graydon LLP Shearman & Sterling LLP