A $650 million private placement of debt securities by Berkshire Hathaway Finance Corp. that will be used in part to finance a mortgage subsidiary of Clayton Homes Inc. (a Berkshire Hathaway company) has been rated triple-A by Standard & Poor's Ratings Services.The medium-term notes will be issued with three- and 10-year maturities. S&P said the net proceeds of the issuance are expected to be used to fund the finance operations of Vanderbilt Mortgage and Finance Inc., a wholly owned subsidiary of Clayton Homes, a manufactured housing company acquired by Berkshire Hathaway in 2003. S&P can be found online at http://www.standardandpoors.com.
S&P: Berkshire Debt to Fund Mortgage Ops
July 14, 2004, 2:00 p.m. EDT 1 Min Read
