CSX plans to sell $1B in notes

Railroad operator CSX Corp. plans to sell $1 billion in notes, according to a Securities and Exchange Commission filing Thursday.

The offering is comprised of $400 million in 5.75 percent notes due in 2013, and $600 million in 6.25 percent notes due in 2018.

Proceeds from the sale will be used for general corporate purposes, including stock repurchases, capital expenditures, and lowering costs at the company's transportation units, CSX said in the filing.

Shares rose 49 cents to $42 in midday trading.