(The Associated Press circulated the following on July 12, 2010.)
OMAHA, Neb. Union Pacific Corp. said Monday its offer to exchange cash and new notes for debt expiring in 2019 has ended.
The company said holders agreed to exchange $375.9 million in old notes. It will issue the same amount in new notes and pay $95.8 million in cash plus accrued interest that hasn't been paid on the old notes.
Union Pacific had offered to exchange the 7.875 percent notes due in 2019 for 5.78 percent notes due in 2040 plus cash. The offer began June 11 and expired Friday. It was limited to qualified institutional investors.
Shares of Union Pacific rose 98 cents to $72.69 on Monday.