Union Pacific to reopen 2031 notes, sell new fixed-rate tranche

Chicago, Sept. 7 – Union Pacific Corp. is planning to reopen its 2.375% notes due 2031 and also intends to sell new fixed-rate notes (//A-), according to a 424B2 filing with the Securities and Exchange Commission.

The add-on of the 2031 notes will be combined and form the same series as the existing $850 million of notes that were issued on May 20.

The 2031 notes have a make-whole call at Treasuries plus 15 basis points until the par call date. The new notes will also be subject to an optional call with a make-whole premium.

Barclays, Citigroup Global Markets Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are leading the offering. Mizuho Securities USA LLC and Truist Securities, Inc. are also listed as bookrunners.

Cravath, Swaine & Moore LLP is advising the issuer.

Proceeds will be used for general corporate purposes, including the repurchase of common stock pursuant to the company’s share repurchase program.

The railroad transportation company is based in Omaha.

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