NEW YORK ( TheStreet) -- Warren Buffett's Berkshire Hathaway ( BRK.A) is planning to put $1.5 billion of senior bonds up for sale in an effort to retire existing debt.

The sale of the senior debt notes will allow Berkshire to retire $1.5 billion in floating-rate notes issued in 2008 and maturing later this month. The sale of fixed- and floating-rate 3-year notes and fixed-rate 10-year debt could take place on Monday, according to a report by Bloomberg, adding that the notes will be issued by Berkshire Hathaway Finance Corp.

Goldman Sachs Group ( GS), JPMorgan Chase ( JPM) and Wells Fargo ( WFC) will be running the debt sale, according to a Securities & Exchange Commission filing. Bloomberg reported that the three year notes could gross 35 basis points more than three-month LIBOR. The 10-year notes could pay out in between a spread of 95 basis points to 100 basis points.

--Written by Maria Woehr in New York.

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