Berkshire Hathaway sold ¥210.1 billion ($1.4 billion) of yen-denominated bonds on Friday at a spread which was lower compared with its previous deal as global investors flock to Japan.
The offering comprised four tranches of SEC-registered, senior, unsecured bonds with maturities ranging from three to 15 years, and raised in aggregate more than the previous ¥90 billion sale in April. That prior deal, which came at a time of heightened uncertainty due to US trade tensions, marked the smallest yen issuance by veteran investor Warren Buffett’s firm since it first starting tapping the market in 2019.
The three-year notes, the largest portion of today’s sale, were priced at a spread of 48 basis points over TONA-based yen mid-swaps, compared with 70 basis points in the previous offering. The US firm also paid about 64 basis points on the five-year tenor, lower than the previous offering.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.