E-mails to officials at Berkshire and Pemex seeking comment on the bond sales weren’t immediately answered. Officials at Ferrari, based in Maranello, Italy, declined to comment on the bond offering.
Berkshire last sold bonds in euros a year ago, based on data compiled by Bloomberg. Yields on the 3 billion euros of notes, sold in three parts, have widened since then, in line with most other investment-grade notes sold at the time. The 750 million euros of 2023 notes are quoted at about 90 basis points above benchmark rates, after pricing at 27 basis points above, according to data compiled by Bloomberg.
Buffett has said that Berkshire used about $23 billion of cash toward the Precision Castparts purchase, which was valued at about $37 billion. He planned to borrow the rest. The billionaire has used cash generated by insurance units to grow Berkshire through acquisitions including companies making underwear, ice cream and batteries. The company’s cashpile had surpassed $70 billion as of Dec. 31.
Average yields on euro-denominated investment grade debt have narrowed to 1.23 percent from 1.58 percent in late September, according to Bank of America Merrill Lynch index data.