New Issue: Burlington Northern prices $825 million 3.55% bonds due 2050 at 95 bps spread

By Cristal Cody

Tupelo, Miss., July 15 – Burlington Northern Santa Fe, LLC sold $825 million of 3.55% senior debentures due Feb. 15, 2050 (A3/A+) at 99.702 to yield 3.566%, or a spread of 95 basis points over Treasuries, on Monday, according to an FWP filing with the Securities and Exchange Commission.

BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. 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, Tex.

Issuer:	Burlington Northern Santa Fe, LLC
Amount:	$825 million
Description:	Senior debentures
Maturity:	Feb. 15, 2050
Bookrunners:	BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
Co-managers:	Barclays, U.S. Bancorp Investments, Inc., Academy Securities, Inc. and PNC Capital Markets LLC
Coupon:	3.55%
Price:	99.702
Yield:	3.566%
Spread:	Treasuries plus 95 bps
Call features:	Make-whole call before Aug. 15, 2049 at Treasuries plus 15 bps; thereafter at par
Trade date:	July 15
Settlement date:	July 24
Ratings:	Moody’s: A3
	S&P: A+
Distribution:	SEC registered

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