Buffett Nabs Some High-Yield Tiffany (TIF) Debt

Friday afternoon, luxury jewelry maker Tiffany & Co (NYSE: TIF) disclosed that it issued $250,000,000 of its 10.00% Series A-2009 and Series B-2009 Senior Notes to subsidiaries of Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.a).

The Series A-2009 Notes are in the amount of $125 million and are due on February 13, 2017. The Series B-2009 Notes are in the amount of $125 million and are due on February 13, 2019.

Tiffany said the proceeds of the Notes will be used to refinance existing indebtedness and for general corporate purposes.

Since the fall, Buffett's Berkshire Hathaway has been able to secure similar high-yield investments with a number of big-name companies as the credit crisis plays out. He has high-yield investments in Goldman Sachs (NYSE: GS), General Electric (NYSE: GE), Sealed Air (NYSE: SEE), USG Corp (NYSE: USG), Swiss Re and Harley-Davidson (NYSE: HOG). Payouts on these investments range from 10%-15%.

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