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Berkshire to Get 9% on Burger King Preferred Stake

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Aug. 26 (Bloomberg) -- Berkshire Hathaway Inc. will earn 9 percent on a $3 billion preferred equity stake that Warren Buffett’s firm will take to finance Burger King Worldwide Inc.’s takeover of Tim Hortons Inc.

A term loan tied to the deal will probably pay the London interbank offered rate plus at least 300 basis points, Burger King Chief Executive Officer Daniel Schwartz said today on a conference call with analysts. Bonds linked to the transaction will pay “maybe a little bit, right around that range, a little bit higher,” Schwartz said.

A basis point is 0.01 percentage point.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editors responsible for this story: Dan Kraut at dkraut2@bloomberg.net; Shannon D. Harrington at sharrington6@bloomberg.net Shannon D. Harrington

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