By Andrea Heisinger
Omaha, Aug. 21 - Union Pacific Corp. priced $500 million of 5.45% notes due January 2013 on Tuesday to yield Treasuries plus 123 basis points, according to a market source.
The notes (Baa2/BBB) had a yield of 5.484% and priced at 99.846.
Bookrunners were Banc of America Securities LLC, Barclays Capital Inc. and Credit Suisse Securities LLC.
Proceeds will be used for general corporate purposes including repurchase of common stock under its share repurchase program. The company has no outstanding commercial paper.
Union Pacific is an Omaha-based railroad operator.
| Issuer: | Union Pacific Corp.
|
| Security description: | Notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 31, 2013
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital Inc., Credit Suisse Securities LLC
|
| Coupon: | 5.45%
|
| Price: | 99.846
|
| Yield: | 5.484%
|
| Spread: | Treasuries plus 123 bps
|
| Call: | Any time at greater of par or make-whole amount equal to Treasury plus 20 bps
|
| Trade date: | Aug. 21
|
| Settlement date: | Aug. 24
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
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