Union Pacific Corporation Announces Expiration of Exchange Offers
OREANDA-NEWS. Union Pacific Corporation (NYSE: UNP; and "Union Pacific" or the "Corporation") today announced the expiration of its private offers to exchange (1) certain of its outstanding notes and debentures referenced in the first table below for a combination of 3.646% Notes due 2024 (the "New 2024 Notes") and cash (the "2024 Offers"), and (2) certain of its outstanding notes and debentures referenced in the second table below for a combination of 4.821% Notes due 2044 (the "New 2044 Notes" and, together with the New 2024 Notes, the "New Notes") and cash (the "2044 Offers" and, together with the 2024 Offers, the "Exchange Offers").
The outstanding notes and debentures to be exchanged pursuant to the Exchange Offers are collectively referred to as the "Existing Notes." The Exchange Offers, which commenced on July 22, 2013, expired at 11:59 p.m., New York City time on August 16, 2013 (the "Expiration Date"). According to information provided by the exchange agent for the Exchange Offers, Union Pacific received valid tenders from holders of USD 1,268,900,000 aggregate principal amount of Existing Notes.
On August 21, 2013, Union Pacific expects to deliver an aggregate principal amount of USD 439,192,000 of New 2024 Notes and an aggregate principal amount of USD 700,000,000 of New 2044 Notes, and will pay an aggregate of USD 279,868,465.49 cash consideration for the Existing Notes accepted for exchange, as described in greater detail in the tables below, plus accrued and unpaid interest on such Existing Notes and cash in lieu of fractional amounts of the New Notes.
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