(Reuters circulated the following article on December 8.)
WASHINGTON — U.S. railroad company Burlington Northern Santa Fe Corp. on Thursday said it may periodically sell up to $500 million in debt securities and trust preferred securities.
The company said in a shelf registration statement filed with the U.S. Securities and Exchange Commission that the $500 million of securities represent previously registered and unsold securities.
It said it plans to use the proceeds for general corporate purposes, including working capital, capital spending, debt repayment, and repurchasing common stock as part of its share repurchase program.
Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.