8-KOther EventsExhibits & Filings

BERKSHIRE HATHAWAY INC 8-K Report, Corporate Update (Apr 26, 2024)

Filed April 26, 2024For Securities:BRK-BBRK-A

Summary

Berkshire Hathaway Inc. (BRK-B) filed an 8-K on April 25, 2024, to report the issuance of a substantial aggregate principal amount of senior notes denominated in Japanese Yen (¥). This issuance, totaling ¥263.8 billion across seven tranches with maturities ranging from 2027 to 2054 and coupon rates between 0.974% and 2.498%, was conducted under an existing registration statement filed in January 2022. This debt issuance indicates Berkshire's ongoing strategy to manage its capital structure and potentially secure long-term funding at favorable rates. Investors should note that the proceeds from these notes are not explicitly detailed in this filing, but such actions typically support general corporate purposes, acquisitions, or refinancing existing debt. The specific maturity profiles and coupon rates suggest a deliberate approach to long-term financial planning and currency management.

Key Highlights

  • 1Berkshire Hathaway issued ¥263.8 billion (approximately $1.7 billion USD as of April 2024) in senior notes across seven tranches.
  • 2The notes have varying maturities, ranging from 3 years (2027) to 30 years (2054).
  • 3Coupon rates on the issued notes range from 0.974% to 2.498%, reflecting current market conditions for long-term Yen-denominated debt.
  • 4The issuance was conducted under a previously filed Form S-3 registration statement from January 2022.
  • 5Underwriting for the offering was managed by Merrill Lynch International and Mizuho Securities USA LLC.
  • 6The filing includes various exhibits such as the underwriting agreement, the master indenture, and officers' certificates for each note series.

Frequently Asked Questions

Berkshire Hathaway issued a total of ¥263,800,000,000 (263.8 billion Japanese Yen) in senior notes across seven different tranches.

The notes have maturity dates in 2027, 2029, 2030, 2031, 2034, 2044, and 2054. The corresponding interest rates (coupons) are 0.974%, 1.143%, 1.287%, 1.457%, 1.680%, 2.278%, and 2.498%, respectively.

The filing does not explicitly state the purpose of the debt issuance. However, proceeds from such debt offerings are typically used for general corporate purposes, including funding operations, acquisitions, capital expenditures, or refinancing existing indebtedness.

These senior notes were issued under Berkshire Hathaway's existing shelf registration statement on Form S-3, filed with the SEC on January 28, 2022.