HOUSTON, December 1, 2025 – Baker Botts L.L.P., a leading international energy, technology and life sciences law firm, represented the underwriters in a public offering of debentures for Burlington Northern Santa Fe, LLC (“BNSF”).

The offering priced on December 1, 2025, and consists of $950 million aggregate principal amount of BNSF’s 5.550% Debentures due March 15, 2056.

BNSF intends to use the net proceeds from the offering for general corporate purposes. The joint book-running managers for the offering are Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC.

BNSF is engaged primarily in freight railroad transportation through its ownership of its principal, wholly owned operating subsidiary, BNSF Railway Company. BNSF Railway Company operates one of the largest railroad networks in North America. BNSF Railway Company operates over 32,500 route miles of track in 28 states and also operates in three Canadian provinces. BNSF is a wholly owned subsidiary of Berkshire Hathaway Inc.

Baker Botts Lawyers/Offices Involved:

Corporate: Carina Antweil (Partner, Houston); Lakshmi Ramanathan (Special Counsel, Houston); Shelby Brown (Associate, Houston); Jack Hennessy (Associate, Houston)

Tax: Jon Lobb (Partner, Houston); Andrew Maughan (Associate, Houston)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

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