WASHINGTON — Union Pacific Corp., North America’s biggest railroad operator, filed on Monday with the Securities and Exchange Commission to periodically sell up to $1 billion in debt securities, common and preferred stock and warrants.
The Omaha, Nebraska-based company plans to use the net proceeds for general corporate purposes, including repayment of borrowings, working capital, capital expenditures, stock repurchases and acquisitions, the shelf registration filing said.
Under such a filing, a company may sell securities from time to time in one or more separate offerings in amounts, at prices and on terms to be determined at the time of sale.
Union Pacific shares fell 62 cents to close at $60.54 on the New York Stock Exchange.