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Berkshire Hathaway raises $1.9 billion in bond deal, term sheet shows
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Berkshire Hathaway raises $1.9 billion in bond deal, term sheet shows
Oct 10, 2024 10:41 PM

(Reuters) -Warren Buffett's Berkshire Hathaway ( BRK/A ) has raised 281.8 billion yen ($1.9 billion) in a seven-tranche yen-denominated bond deal, according to a term sheet reviewed by Reuters on Thursday.

The U.S. investment giant issued bonds with tenors of 3, 5, 7, 10, 20, 28 and 30 years, the term sheet showed.

The 3-year tranche was the largest with 155.4 billion yen raised, ahead of the 5-year bond raising 58 billion yen.

Longer-dated bonds were added during the transaction and a proposed 15-year tranche was dropped, messages sent from the deal's bookrunners showed.

Final prices for each of the tranches were set at the lower to middle end of the revised price guidance given to investors, the term sheets showed.

The deal was the largest yen-denominated bond issuance for Berkshire Hathaway ( BRK/A ) since its first of the type in 2019.

Berkshire Hathaway ( BRK/A ) said in a U.S. Securities and Exchange Commission filing that the proceeds raised in the deal would be used for general corporate purposes. It did not disclose the size of the deal in the filing.

($1 = 149.1500 yen)

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