Union Pacific readies two-part note offering via four bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Feb. 13 – Union Pacific Corp. is readying the sale of a two-part offering of notes, according to a 424B2 filing with the Securities and Exchange Commission on Monday morning.

There will be make-whole calls and then par calls. Any change of control will trigger a 101 put.

Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are joint bookrunners for the deal.

Bank of New York Mellon will be the trustee.

The company is using in-house counsel, and the underwriters have employed Cravath, Swaine & Moore LLP.

Proceeds will be used for general corporate purposes, including stock repurchase programs.

The railroad transportation company is based in Omaha.

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