Berkshire Prices 6-Part, $8 Billion Deal

Tyler Durden's picture

JPMorgan, as lead underwriter, just priced the $8 billion Berkshire 4-part bond offering, which ended up being a 6-part deal. Terms were as follows.

Amount:          $2 billion
Maturity:          Feb. 10, 2011
Coupon:           3-month Libor plus 2 basis points
Price:               Par
Yield:                3-month Libor plus 2 basis points
Settlement:     Feb. 11, 2010
Ratings:           Aa2 (Moody's Investors Service)
                       AA+ (Standard & Poor's)

Amount:         $1.1 billion
Maturity:         Feb. 10, 2012
Coupon:         3-month Libor plus 18 basis points
Price:              Par
Yield:              3-month Libor plus 18 basis points
Settlement:    Feb. 11, 2010
Ratings:          Aa2 (Moody's Investors Service)
                      AA+ (Standard & Poor's)

Amount:         $600 million
Maturity:         Feb. 10, 2012
Coupon:         1.40%
Price:              99.935
Yield:              1.433%
Spread:          63 basis points over Treasurys
Settlement:     Feb. 11, 2010
Ratings:          Aa2 (Moody's Investors Service)
                      AA+ (Standard & Poor's)

Amount:         $1.2 billion
Maturity:         Feb. 11, 2013
Coupon:         3-month Libor plus 43 basis points
Price:              Par
Yield:              3-month Libor plus 43 basis points
Settlement:    Feb. 11, 2010
Ratings:          Aa2 (Moody's Investors Service)
                      AA+ (Standard & Poor's)

Amount:         $1.4 billion
Maturity:        Feb. 11, 2013
Coupon:         2.125%
Price:              99.965
Yield:              2.137%
Spread:          83 basis points over Treasurys
Settlement:    Feb. 11, 2010
Ratings:          Aa2 (Moody's Investors Service)
                      AA+ (Standard & Poor's)

Amount:        $1.7 billion
Maturity:        Feb. 11, 2015
Coupon:        3.20%
Price:             99.917
Yield:             3.218%
Spread:         93 basis points over Treasurys
Settlement:   Feb. 11, 2010
Ratings:         Aa2 (Moody's Investors Service)
                     AA+ (Standard & Poor's)