By Cristal Cody
Tupelo, Miss., Feb. 26 – Burlington Northern Santa Fe, LLC sold $750 million of 4.05% long 30-year senior debentures (A3/A) on Monday at 99.745 to yield 4.065%, or a spread of 90 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.
The debentures due June 15, 2048 were talked to price in the Treasuries plus 90 bps to 95 bps area.
Citigroup Global Markets Inc., Goldman Sachs & Co., BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC were 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, Texas.
| Issuer: | Burlington Northern Santa Fe, LLC
|
| Amount: | $750 million
|
| Description: | Senior debentures
|
| Maturity: | June 15, 2048
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC
|
| Coupon: | 4.05%
|
| Price: | 99.745
|
| Yield: | 4.065%
|
| Spread: | Treasuries plus 90 bps
|
| Call features: | Make-whole call before Dec. 15, 2047 at Treasuries plus 15 bps; thereafter at par
|
| Trade date: | Feb. 26
|
| Settlement date: | March 5
|
| Ratings: | Moody’s: A3
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 90 bps-95 bps area
|
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