Simpson Thacher represented Deutsche Bank AG, London Branch, Goldman, Sachs & Co., Merrill Lynch International and Wells Fargo Securities International Limited in connection with Berkshire Hathaway Inc.’s first registered public offering of euro-denominated notes. Berkshire Hathaway Inc. (“Berkshire”) offered €3 billion aggregate principal amount of debt securities, consisting of €750 million of 0.75% Senior Notes due 2023, €1.250 billion of 1.125% Senior Notes due 2027 and €1 billion of 1.625% Senior Notes due 2035. The offering closed on March 16, 2015. The notes will be listed on the New York Stock Exchange.
Berkshire used the net proceeds from the offering to replace its $1.7 billion aggregate principal amount of 3.200% Senior Notes due February 2015 that matured and was repaid on February 11, 2015. The remaining proceeds will be used for general corporate purposes.
Berkshire and its subsidiaries engage in a number of diverse business activities including 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, Ryan Castillo and Sage Hughes (Capital Markets); Steve DeLott (Insurance); Jonathan Cantor and Jacqueline Barbera (Tax); and Jennie Getsin (FINRA).