Buffett helps himself as demand outstrips supply
Warren Buffett has a self-proclaimed reputation for “being greedy when others are fearful”, and his investment company, Berkshire Hathaway was true to its founder’s word with a $950m two-part bond offering that attracted demand of $3.4bn.
Berkshire took advantage of a dearth of primary new issuance in the FIG sector as Wall Street skulked in earnings blackout to tap pent-up demand. And with worries over the US debt ceiling focusing investors' minds on the highest quality names, Berkshire fitted the bill.
The investment company,
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