Simpson Thacher Represents the Underwriters in $1.6 Billion Debt Offering by Berkshire Hathaway Finance Corporation
05.17.12
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The Firm represented BofA Merrill Lynch, Goldman, Sachs & Co., J.P. Morgan and Wells Fargo Securities in the public offering of $1.6 billion of debt securities of Berkshire Hathaway Finance Corporation (“BHFC”), which will be fully and unconditionally guaranteed by Berkshire Hathaway Inc. (“Berkshire”), consisting of $750,000,000 of 1.600% Senior Notes due 2017, $350,000,000 of 3.000% Senior Notes due 2022 and $500,000,000 of 4.400% Senior Notes due 2042.
BHFC will use the net proceeds from the offering to satisfy and retire a portion of its existing $700,000,000 aggregate principal amount of 4.750% Senior Notes due 2012 and to replace its $1 billion aggregate principal amount of 4.000% Senior Notes due 2012 that matured on April 15, 2012.
Berkshire and its subsidiaries engage in a number of diverse business activities including property and casualty insurance and reinsurance, freight rail transportation, utilities and energy, finance, manufacturing, services and retailing. Berkshire’s common stock is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.
The Simpson Thacher team for the transaction included Andy Keller, Daniel Bae and Tyler Flood (Capital Markets), Steve DeLott (Insurance), Jonathan Cantor and Christian Miller (Tax), and Jennie Getsin (FINRA).