Berkshire Hathaway feasts at yen buffet

Alamy Warren Buffet 230x150
By Frank Jackman
09 Sep 2019

One of the world’s largest companies made its debut in the yen bond market last week, as Berkshire Hathaway placed ¥430bn ($4bn) of multi-tranche debt. With the Japanese government yield curve offering sub-zero returns for anything under 15 years, the six tranche deal offered investors a chance to earn a yield pick-up, according to bankers away from the deal.

“Amazing deal,” said a banker away from the deal. “Phenomenal. A rare opportunity to buy into the great man himself.” He was referring to Warren Buffett, CEO of Berkshire Hathaway.

“With the Japanese government bonds near zero, you are getting a pick-up against the sovereign,” continued the banker. ...

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