RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Berkshire to Ferrari tap demand for euro bonds Thu 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 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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