Union Pacific accepts $375.9 million 7.875% notes in exchange offer

By Susanna Moon

Chicago, July 12 - Union Pacific Corp. said that investors tendered $375.9 million of its 7.875% notes due 2019 in the exchange offer for new 5.78% notes due 2040 as of 11:59 p.m. ET on July 9, the expiration and early exchange date.

Holders had tendered $333.4 million of the 7.875% notes at 5 p.m. ET on June 24, the date the early exchange had been set to end before it was extended.

The company sought tenders of a minimum of $250 million of the 7.875% notes.

Holders who tendered by the early exchange deadline were to receive an additional early exchange premium.

On July 14, Union Pacific expects to deliver $375.9 million principal amount of new notes and will pay $95,775,561 in cash for tendered notes, along with accrued interest on the notes.

D.F. King & Co., Inc. was the information agent (call collect 212 269-5550 or 800 714-3312).

The rail transport company is based in Omaha.

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