Berkshire Hathaway Raises $1.9 Billion in Yen-Denominated Bonds

By Scott Murdoch

(Reuters) – Warren Buffett's Berkshire Hathaway (NYSE: BRKa) has raised 281.8 billion yen ($1.9 billion) in a seven-tranche yen-denominated bond deal, according to a term sheet reviewed by Reuters on Thursday.

The U.S. investment giant issued bonds with tenors of 3, 5, 7, 10, 20, 28, and 30 years, the term sheet showed.

The 3-year tranche was the largest with 155.4 billion yen raised, followed by the 5-year bond raising 58 billion yen.

Longer-dated bonds were added during the transaction, while a proposed 15-year tranche was dropped, according to messages sent from the deal's bookrunners.

Final prices for each of the tranches were set at the lower to middle end of the revised price guidance given to investors.

The deal represents the largest yen-denominated bond issuance for Berkshire Hathaway since its first of this type in 2019.

Berkshire Hathaway disclosed in a U.S. Securities and Exchange Commission filing that the proceeds from the deal would be used for general corporate purposes. The size of the deal was not specified in the filing.

($1 = 149.1500 yen)