Simpson Thacher Represents Underwriters in $1.25 Billion Debt Offering by Berkshire Hathaway
01.11.19
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Simpson Thacher represented BofA Merrill Lynch, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities in the registered public offering by Berkshire Hathaway Finance Corporation (“BHFC”) of $1.25 billion aggregate principal amount of 4.25% notes guaranteed by Berkshire Hathaway Inc. (“Berkshire”). The offering closed on January 11, 2019, with the net proceeds being used to refinance a portion of outstanding BHFC senior notes, to repay intercompany indebtedness and for general corporate purposes.
Berkshire and its subsidiaries engage in 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 under trading symbols BRK.A and BRK.B.
The Simpson Thacher team for the transaction included Risë Norman, Ashley Yoon and Kal Venkatraj (Capital Markets); Steve DeLott (Insurance); Jonathan Cantor and Dmitry Zelik (Tax); and Jennie Getsin (FINRA and Blue Sky).