Simpson Thacher represented Goldman Sachs International, J.P. Morgan Securities plc, Merrill Lynch International and Mizuho Securities USA LLC, in Berkshire Hathaway Inc.’s (“Berkshire”) first registered public offering of Yen-denominated notes. Berkshire offered ¥430 billion aggregate principal amount of debt securities, consisting of ¥108.5 billion of 0.17% Senior Notes due 2024, ¥61 billion of 0.27% Senior Notes due 2026, ¥146.5 billion of 0.44% Senior Notes due 2029, ¥19 billion of 0.787% Senior Notes due 2034, ¥59 billion of 0.965% Senior Notes due 2039 and ¥36 billion of 1.108% Senior Notes due 2049. The offering closed on September 13, 2019. This was the largest offering to date of Yen-denominated notes by a non-Japanese issuer.
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, Sung Bum Cho, Kirsten A. Harmon and Kyle A. Schwab (Capital Markets); Steve DeLott (Insurance); Jonathan Cantor and Dmitry Zelik (Tax); and Jennie Getsin (FINRA and Blue Sky).