Simpson Thacher Represents Underwriters in Berkshire Hathaway’s Inaugural £1.75 Billion Sterling-Denominated Bond Offering
06.20.19
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Simpson Thacher represented Goldman Sachs & Co. LLC, J.P. Morgan Securities plc, Merrill Lynch International and Wells Fargo Securities, LLC in Berkshire Hathaway Finance Corporation’s (“BHFC”) first registered public offering of Sterling-denominated notes. BHFC offered £1.75 billion aggregate principal amount of debt securities, consisting of £1 billion of 2.375% Senior Notes due 2039 and £750 million of 2.625% Senior Notes due 2059, in each case guaranteed by Berkshire Hathaway Inc. (“Berkshire”). The offering closed on June 19, 2019. The notes will be listed on the New York Stock Exchange (“NYSE”).
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 NYSE under trading symbols BRK.A and BRK.B.
The Simpson Thacher team for the transaction included Risë Norman, Kirsten A. Harmon and Adam Kahan (Capital Markets); Steve DeLott (Insurance); Jonathan Cantor and Dmitry Zelik (Tax); and Jennie Getsin (FINRA and Blue Sky).