Tiffany Lands Warren Buffett Debt (TIF, BRK-A)

Banking, finance, and taxes

Published: February 13, 2009 3:18 pm

Last Updated: April 28, 2020 7:41 am

buffett-image 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

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.