Burlington Northern Santa Fe’s $625 Million Debentures Offering

Cravath represented Burlington Northern Santa Fe, while Baker Botts advised the underwriters on the deal.

Burlington Northern Santa Fe, LLC (the “Company”) priced a public offering of $625 million aggregate principal amount of its 2.875% Debentures due June 15, 2052.

The Company intends to use the net proceeds from the offering for general corporate purposes. The joint book-running managers for the offering are Barclays Capital Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC.

Burlington Northern Santa Fe, LLC is engaged primarily in freight railroad transportation through its principal operating subsidiary, BNSF Railway Company. BNSF Railway Company operates one of the largest railroad networks in North America with approximately 32,500 route miles of track in 28 states and three Canadian provinces. In particular, BNSF Railway Company serves major cities and ports in the western and southern United States, Canadian and Mexican traffic and important gateways to the eastern United States. Burlington Northern Santa Fe, LLC is a wholly owned subsidiary of Berkshire Hathaway Inc.

The Baker Botts team included: Carina Antweil (Partner, Houston, Picture); Lakshmi Ramanathan (Senior Associate, Houston); Emmie Proctor (Associate, Houston); Christopher Carreon (Associate, Houston), Jon Lobb (Partner, Houston) and Laura Williams (Associate, Houston).

The Cravath team included partner Andrew J. Pitts and associate Ddang P. Kim on capital markets matters, and Christopher K. Fargo and associate Joana W. Li on tax matters. Victoria M. Stringfellow also worked on capital markets matters and Michael Pelle also worked on tax matters.

Involved fees earner: Carina Antweil – Baker Botts LLP; Christopher Carreon – Baker Botts LLP; Jon Lobb – Baker Botts LLP; Emmie Proctor – Baker Botts LLP; Lakshmi Ramanathan – Baker Botts LLP; Laura Williams – Baker Botts LLP; Christopher K. Fargo – Cravath Swaine & Moore; Ddang Kim – Cravath Swaine & Moore; Joana Li – Cravath Swaine & Moore; Michael Pelle – Cravath Swaine & Moore; Andrew Pitts – Cravath Swaine & Moore;

Law Firms: Baker Botts LLP; Cravath Swaine & Moore;

Clients: Barclays Capital ; Burlington Northern Santa Fe, LLC; Morgan Stanley; Wells Fargo Securities;

Martina Bellini

Author: Martina Bellini