Transportation company Union Pacific has priced $500 million of senior unsecured bonds, The Wall Street Journal reports. The initially planned size of the deal was $350 million. The notes carry a coupon rate of 4.75% and will mature on Sept. 15, 2041, adds Reuters. The sale proceeds will be used to buy back common stock pursuant to the company’s share repurchase program. The book-runners for the deal are Bank of America Merrill Lynch, JP Morgan Chase and Citigroup.
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