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Subject: Buffet takes over Harley debt


Author:
Bob
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Date Posted: 05:26:29 02/04/09 Wed
 Billionaire Warren Buffet has agreed to buy USD 300,000,000 of debt from Harley-Davidson. Buffet’s insurance company, Berkshire Hathaway assumes unsecured credit notes – and their 15% interest – to his estimated portfolio of USD 85 billion of corporate debt and stock.

Buffet, 78, prefers to invest in companies with ‘a powerful competitive advantage such as a well-known brand’. Berkshire Hathaway, in managing the portfolio, can charge the debtors interest rates of more than 10%.

Buffet has also invested in global brands such as Mars and General Electric.
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