Montag, 22.03.2021 21:30 von PR Newswire | Aufrufe: 68

UNION PACIFIC CORPORATION ANNOUNCES PRICING TERMS OF EXCHANGE OFFERS

Ein Union Pacific Frachtzug. © mixmotive / iStock Editorial / Getty Images Plus / Getty Images https://www.gettyimages.de/

PR Newswire


OMAHA, Neb., March 22, 2021 /PRNewswire/ -- Union Pacific Corporation (NYSE: UNP) ("Union Pacific" or the "Corporation") today announced the pricing terms of its private offers to exchange (1) certain of its outstanding notes and debentures referenced in the first table below for a combination of new notes due 2036 (the "New 2036 Notes") and cash (the "2036 Offers"), and (2) certain of its outstanding notes referenced in the second table below for a combination of new notes due 2071 (the "New 2071 Notes" and, together with the New 2036 Notes, the "New Notes") and cash (the "2071 Offers" and, together with the 2036 Offers, the "Exchange Offers"), established as of 11:00 a.m., New York City time, on March 22, 2021 (the "Price Determination Date") in accordance with Union Pacific's offering memorandum dated March 8, 2021 (the "Offering Memorandum") and the related letter of transmittal.  The outstanding notes and debentures to be exchanged pursuant to the Exchange Offers are collectively referred to as the "Existing Notes."

The total exchange price to be received in each Exchange Offer (the "Total Exchange Price") for each $1,000 principal amount of Existing Notes validly tendered, not validly withdrawn prior to 5:00 p.m., New York City time, on March 19, 2021 (the "Early Exchange Date") and accepted for exchange is set forth in the tables below.  The Total Exchange Price, which includes the early exchange premium of $50.00 in cash per $1,000 principal amount of Existing Notes validly tendered, not validly withdrawn prior to the Early Exchange Date and accepted for exchange, will be paid via the issuance of the principal amount of New Notes set forth in the tables below, with the remaining amount paid in cash.  The Total Exchange Price has been determined using the yields for the Exchange Offers in accordance with the procedures set forth in the Offering Memorandum.  Holders of Existing Notes who validly tender Existing Notes after the Early Exchange Date that are accepted for exchange will receive the Total Exchange Price less the early exchange premium of $50.00 in cash per $1,000 principal amount of Existing Notes validly tendered, not validly withdrawn and accepted for exchange.  The annual interest rate on the 2036 Notes will be 2.891%, which has been determined as the bid-side yield of the designated reference security as of the Price Determination Date, which was 1.691%, plus the applicable spread.  The annual interest rate on the 2071 Notes will be 3.799%, which has been determined as the bid-side yield of the designated reference security as of the Price Determination Date, which was 2.399%, plus the applicable spread.

The table below shows the Total Exchange Price per $1,000 principal amount of each series of Existing Notes accepted in the 2036 Offers.











Total Exchange Price

CUSIP Number


Title of Series

Kurse

  
229,48 $
+1,00%
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Aggregate
Principal

Amount

Outstanding


Reference
UST Yield


Fixed Spread
(basis points)


New Notes


Cash Payment

907818EY0


3.950% Notes due 2028


$1,500,000,000


1.691%


20


$1,000.00


$137.60

907818FB9


3.700% Notes due 2029


$1,000,000,000


1.691%


30


$1,000.00


$120.76

907818CU0


6.250% Debentures due 2034


$160,068,000


1.691%


105


$1,000.00


$383.25

907818CS5


5.375% Debentures due 2033


$149,687,000


1.691%


95


$1,000.00


$282.60

907818BY3


7.125% Debentures due 2028


$175,560,000


1.691%


50


$1,000.00


$310.92

907818CF3


6.625% Debentures due 2029


$398,276,000


1.691%


60


$1,000.00


$308.62

The table below shows the Total Exchange Price per $1,000 principal amount of each series of Existing Notes accepted in the 2071 Offers.











Total Exchange Price

CUSIP Number


Title of Series


Aggregate
Principal
Amount
Outstanding


Reference
UST Yield


Fixed Spread
(basis points)


New Notes


Cash Payment

907818EX2


4.800% Notes due 2058


$76,570,000


2.399%


115


$1,000.00


$256.31

907818DT2

907818DS4


4.821% Notes due 2044


$189,119,000


2.399%


105


$1,000.00


$212.31

907818EG9


4.375% Notes due 2065


$600,000,000


2.399%


125


$1,000.00


$158.55

907818DL9


4.300% Notes due 2042


$222,179,000


2.399%


90


$1,000.00


$149.21

907818EW4


4.500% Notes due 2048


$453,374,000


2.399%

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