Berkshire Hathaway announces $1B debt offering to pay off current notes
By APWednesday, January 6, 2010
Berkshire Hathaway files $1B debt offering
OMAHA, Neb. — Billionaire Warren Buffett’s Berkshire Hathaway Inc. on Wednesday filed documents for a $1 billion debt offering with proceeds to retire existing debt due this year.
The company, in a regulatory filing, said it plans to offer $750 million in senior notes due 2040 and $250 million in floating rate senior notes due 2010.
The notes will be senior unsecured indebtedness of Berkshire Hathaway Finance Corp. and will rank equally with all its other existing and future senior unsecured indebtedness, the filing said.
The company said as of Sept. 30, Berkshire Hathaway Finance Corp. had no secured indebtedness and $12.1 billion of debt.
Berkshire Hathaway Inc. had $169 million of debt and its subsidiaries had $37.8 billion of debt.
Shares rose $6 to $99,716 per share.
