(BRK.A), (BRK.B)
Berkshire Hathaway has another $100 million that it needs to invest.
Seritage Growth Properties, a national owner and developer of retail, residential and mixed-use properties, announced that on November 30, 2022, the company made a voluntary prepayment of $100 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Company of Nebraska.
With the prepayment, $1.06 billion of the term loan facility remains outstanding.
The prepayment will also reduce the amount of interest Berkshire receives from Seritage’s total annual interest expense by approximately $7.0 million.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.