By Andrea Heisinger
New York, March 26 - A financing unit of Berkshire Hathaway priced an upsized $750 million of 4% three-year notes Thursday at Treasuries plus 282 basis points, a source close to the deal said.
The size of the deal was increased from $400 million.
The spread was at the tight end of talk, he said, which was the 285 bps area.
The notes (Aaa/AAA/AAA) priced at 99.767 to yield 4.082%. They have a make-whole redemption at Treasuries plus 45 bps.
The deal was sold via Rule 144A.
Bookrunners were Goldman Sachs & Co. and Morgan Stanley.
The financial holding company is based in Omaha, Neb.
| Issuer: | Berkshire Hathaway financing unit
|
| Issue: | Notes
|
| Amount: | $750 million, increased from $400 million
|
| Maturity: | April 15, 2012
|
| Bookrunners: | Goldman Sachs & Co., Morgan Stanley
|
| Coupon: | 4%
|
| Price: | 99.767
|
| Yield: | 4.082%
|
| Spread: | Treasuries plus 282 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Distribution: | Rule 144A
|
| Trade date: | March 26
|
| Settlement date: | April 2
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price talk: | 285 bps area
|
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