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 Berkshire to Ferrari tap demand for euro bonds

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RR Phantom

RR Phantom

Location : Wasted Space
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Berkshire to Ferrari tap demand for euro bonds   Vide
PostSubject: Berkshire to Ferrari tap demand for euro bonds    Berkshire to Ferrari tap demand for euro bonds   Icon_minitimeThu Mar 10, 2016 1:30 am

Warren Buffett's Berkshire Hathaway and Ferrari led companies with euro-denominated bond sales, as a revival in single-currency debt sales gathers steam.

Berkshire to Ferrari tap demand for euro bonds   1457559856926

Berkshire sold €2.75 billion of notes maturing in four years, eight years and 12 years, according to data compiled by Bloomberg. The offer comes a day after Berkshire sold a company-record $US9 billion of debt to help repay loans used in the acquisition of Precision Castparts.

Ferrari and Petroleos Mexicanos also sold euro bonds as issuers flock back to the market because of a decline in borrowing costs caused by expectations for further European Central Bank easing. Highly rated companies have sold more than €38 billion of notes already this month, surpassing half of January's €63 billion total, according to data compiled by Bloomberg.

"New issuance has started to pick up, but the market environment remains quite volatile," said Chris Bowie, a money manager at Twentyfour Asset Management in London, which oversees about £5.5 billion.

Read more: http://www.smh.com.au/business/markets/berkshire-to-ferrari-tap-demand-for-euro-bonds-20160309-gnf2km.html#ixzz42TlP4GRf
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