Berkshire (NYSE:BRK-A) Issues $500 Million of Notes

Berkshire Hathaway (NYSE:BRK-A) announced it is issuing $500 million in notes due 2015 via its finance subsidiary, Berkshire Hathaway Finance Corp., which will be backed by the parent company.

The bonds, which are 2.45 percent senior notes due in 2015, can be bought with a minimum purchase of $2,000, and in $1 thousand increments from there.

The notes offered by Berkshire offer a yield that is .85 percentage points above the benchmark Treasury bond due in 2015.

Berkshire will use the money raised to finance existing debt that has an interest rate higher than 4.2 percent, according to a company filing.

Goldman Sachs (NYSE:GS) was the bookrunner on the deal and the Bank of New York Mellon Trust (NYSE:BK) was the trustee.

Berkshire Hathaway is the holding company managed by Warren Buffett.