By Taylor Fox and Cristal Cody
New York, March 29 – Burlington Northern Santa Fe, LLC sold $925 million of 3.3% senior debentures due Sept. 15, 2051 (A3/A+) at 99.772 to yield 3.312%, or a spread of 87.5 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
Initial talk was in the Treasuries plus 115 bps area, according to a market source.
BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used for general corporate purposes, including working capital, capital expenditures, debt repayment and distributions.
The holding company for railroad transportation subsidiaries is based in Fort Worth.
| Issuer: | Burlington Northern Santa Fe, LLC
|
| Amount: | $925 million
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| Description: | Senior debentures
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| Maturity: | Sept. 15, 2051
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| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
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| Co-managers: | Academy Securities, Inc., PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. Coupon: | 3.3%
|
| Price: | 99.772
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| Yield: | 3.312%
|
| Spread: | Treasuries plus 87.5 bps
|
| Call features: | Make-whole call before March 15, 2051 at Treasuries plus 15 bps; thereafter at par
|
| Trade date: | March 29
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| Settlement date: | April 6
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| Ratings: | Moody’s: A3
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| S&P: A+
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| Distribution: | SEC registered
|
| Price talk: | 115 bps area over Treasuries
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