Billionaire Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A) reported Wednesday that the holding company filed for a $1 billion debt offering, according to Associated Press.
In a regulatory filing, the company said it plans to offer $750 million in senior notes due 2040 and $250 million in floating rate senior notes due 2010. The proceeds will retire existing debt due this year.
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The notes will be senior unsecured indebtedness of Berkshire Hathaway Finance Corp. and will rank equally with all its other existing and future senior unsecured indebtedness.
The company said Berkshire Hathaway Finance Corp. had no secured indebtedness and $12.1 billion of debt, as of Sept. 30.
Berkshire Hathaway Inc. had $169 million of debt and its subsidiaries had $37.8 billion of debt.
Shares for its Class A stock rose $99.99 to $99,610.01 per share in afternoon trading.
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