Billionaire investor Warren Buffett's Berkshire Hathaway
Thomson Reuters IFR reported Berkshire Hathaway Finance Corp came to market with $375 million in three-year floating rate notes priced at three-month LIBOR plus 33 basis points.
It also offered $375 million in 1.5 percent three-year fixed-rate notes at 58 basis points over comparable Treasuries and $750 million in 10-year 4.25 percent fixed-rate notes at 95 basis points over Treasuries.
The notes will be used to retire existing floating rate notes due to mature this year, IFR said.
I see nothing unusual, one investor told IFR, adding Berkshire had locked in a good rate on the 10-year paper and had largely gone by the book with the sale.
It was one of the largest floating-rate issues by a high-grade issuer since International Business Machines Corp
Last January, Buffett's financing vehicle Berkshire Hathaway Finance came to market with a $1 billion sale, which like Monday's offer was also split into 25 percent floating-rate notes and 75 percent fixed notes.
The firm also issued a mix of fixed and floating notes in January 2008 and January 2005 as well.
Buffett, who was sitting on a $34.5 billion cash pile as of September 30, has run Berkshire since 1965. The firm owns about 80 businesses and a stock portfolio in the tens of billions of dollars.
(Reporting by Ben Berkowitz and IFR analyst Christopher Reich; Editing by Bernard Orr)