The latest from The Ticker blog

• Thompson’s Knoll Groundbreaking Set for March 5
• Examining ads event Feb. 15
• Virginia Tech’s College of Natural Resources and Environment department renamed
• More from The Ticker business blog

NORFOLK -- Norfolk Southern Corp. said this week it is selling $250 million in 100-year bonds, a reopening of a March 2005 deal in which it issued $300 million in bonds due in 2105.

"The reason we're doing it -- and the reason we're doing it now -- is that the interest rates are low and there's a strong demand for this kind of instrument," spokesman Robin Chapman said.

The securities began selling Monday, with a yield of 5.95 percent, according to a report by Bloomberg News.

Earlier in the day, the company had offered $100 million in 100-year bonds and later increased the amount to $250 million. The proceeds will be used for general corporate purposes, Chapman said.

-- The (Norfolk) Virginian-Pilot