In this file:

 

·         Fed to buy bonds from food, ag firms

… including Anheuser-Busch InBev, Archer-Daniels-Midland, Bayer U.S. Finance, Bunge Ltd., Campbell Soup, Cargill, Coca-Cola, Conagra, Costco, Flowers Foods, Hershey, Hormel Foods, J.M. Smucker, Kellogg, Kroger, McDonald’s, Monsanto, PepsiCo, Quaker Oats, Smithfield Foods, Starbucks, Sysco, Tyson Foods and Unilever…

 

·         The Fed bought debt in Warren Buffett's Berkshire Hathaway, Coca-Cola, Walmart, and McDonald's in its first spree of corporate bond-buying

$6.8 billion worth of corporate debt ETFs were also bought by the Fed, with the central bank pouring $1.8 billion into a single ETF.

 

 

Fed to buy bonds from food, ag firms

 

Ryan McCrimmon, POLITICO

06/29/2020

 

FED TO BUY BONDS FROM FOOD, AG FIRMS: The New York Federal Reserve on Sunday detailed its nearly $7 billion shopping list for individual corporate bonds and exchange traded funds, reports Pro Financial Services’ Victoria Guida.

 

Among the nearly 800 companies were dozens of food and farm businesses, including Anheuser-Busch InBev, Archer-Daniels-Midland, Bayer U.S. Finance, Bunge Ltd., Campbell Soup, Cargill, Coca-Cola, Conagra, Costco, Flowers Foods, Hershey, Hormel Foods, J.M. Smucker, Kellogg, Kroger, McDonald’s, Monsanto, PepsiCo, Quaker Oats, Smithfield Foods, Starbucks, Sysco, Tyson Foods and Unilever. (The full spreadsheet is here.)

 

How it works: The program is part of the central bank’s unprecedented efforts to pump money into the economy and keep cash moving through financial markets. The Fed is buying bonds on the open market from companies that meet its eligibility standards. The purchases will lower borrowing costs for those firms should they seek more credit.

 

more, including links

https://www.politico.com/newsletters/morning-agriculture/2020/06/29/fed-to-buy-bonds-from-food-ag-firms-788854

 

 

The Fed bought debt in Warren Buffett's Berkshire Hathaway, Coca-Cola, Walmart, and McDonald's in its first spree of corporate bond-buying

 

·         The Federal Reserve spent $428 million buying debt in individual companies in the first wave of its corporate bond-buying programme, data released Sunday showed.

·         It bought the corporate bonds in households names such as Walmart, Coca-Cola, McDonald's, and Warren Buffett's Berkshire Hathaway, the data showed.

·         The Fed spent $5.7 million on debt in Berkshire Hathaway Energy, a subsidiary of Buffett's conglomerate.

·         $6.8 billion worth of corporate debt ETFs were also bought by the Fed, with the central bank pouring $1.8 billion into a single ETF.

 

Saloni Sardana, Business Insider 

Jun. 29, 2020

 

The Fed bought $428 million worth of corporate bonds in its first foray into company debt as part of its response to the coronavirus, snapping up debt in household names like Coca-Cola, AT&T, and Berkshire Hathaway in the process.

 

A transaction list disclosed Sunday shows the Fed's first round of company bond purchases, showing that the central bank bought debt in some 86 different companies as it fights to keep corporate America afloat amid an unprecedented economic shutdown.

 

The transactions shows the Fed piled in $5.7 million into Berkshire Hathaway Energy, the energy subsidiary of Warren Buffett's conglomerate. It also bought almost $6.5 million of McDonald's debt, and $2.2 million in Southwest Airlines.

 

Other major US household names purchased by the Fed include:

 

    $16.4 million of AT&T debt.

    $7.6 million of Boeing debt.

    $6.6 million of Coca-Cola debt

    $5.1 million of Exxon Mobil debt.

    $7.9 million of Ford debt.

    $8.7 million of Walmart debt.

    $6.2 million of Philip Morris International debt.

 

The Fed made the largest purchases in bonds of United Health Group and AT&T, buying more than $16 million in each of the separate bonds.

 

48% of the bonds bought were rated AAA, AA or A, the Fed said, while 48% were BBB rated, and the final 4% was rated BB.

 

The Fed announced in mid-June that it would begin purchases of up to $250 billion in corporate bonds. The program known as the Secondary Market Corporate Credit Facility will take in up to $250 billion in corporate bonds from eligible issuers.

 

The Fed can also tap $25 billion in funding assistance from the Treasury Department as set aside by the CARES Act.

 

On the ETF front, the Fed also invested in...

 

more

https://markets.businessinsider.com/news/stocks/federal-reserve-buys-corporate-debt-berkshire-hathaway-walmart-mcdonalds-cocacola-2020-6-1029349199