Banking, finance, and taxes
Tiffany Lands Warren Buffett Debt (TIF, BRK-A)
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Tiffany & Co. (NYSE: TIF) scored the big fish. The luxury jewelry retailer issued notes to Warren Buffett’s via units of Berkshire Hathaway, Inc. (NYSE: BRK-A).
The SEC filing shows that the notes were issued Feb. 12, 2009 in the amount of $250 million of its 10.00% Series A-2009 and Series B-2009 Senior Notes to subsidiaries of Berkshire Hathaway Inc.
The transaction is also exempt from the registration requirements of the Securities Act of 1933.
The “Series A-2009 Notes” are $125 million and mature on February 13, 2017. The Series B-2009 Notes are $125 million and mature on February 13, 2019.
The proceeds are earmarked for the refinancing of existing debt and for general corporate purposes. These also require lump sum repayments at maturity and include specific financial covenants, ratios, and limit certain payments, investments, and debt.
Jon C. Ogg
February 13, 2009
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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