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 bought about $428 million worth of debt in individual companies in the first wave of its corporate bond-buying program, data released on Sunday showed.
• It bought corporate bonds in household names such as Walmart, Coca-Cola, McDonald's, and Warren Buffett's Berkshire Hathaway.
• The Fed spent $5.7 million on debt in Berkshire Hathaway Energy, a subsidiary of Buffett's conglomerate.
• The Fed also bought $6.8 billion worth of corporate debt exchange-traded funds — the central bank poured $1.8 billion into a single ETF.

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

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

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

Other major US household names the Fed purchased included:

• $16.4 million worth of AT&T debt
• $7.6 million worth of Boeing debt
• $6.6 million worth of Coca-Cola debt
• $5.1 million worth of Exxon Mobil debt
• $7.9 million worth of Ford debt
• $8.7 million worth of Walmart debt
• $6.2 million worth of Philip Morris International debt

Read more: Jefferies says buy these 14 cheap stocks that are financially strong and positioned for market-beating returns

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

Of the bounds bought, 48% were rated AAA, AA, or A, the Fed said, while 48% were BBB-rated and 4% were BB-rated.

The Fed announced in mid-June that it would begin purchasing up to $250 billion worth of corporate bonds through a program known as the Secondary Market Corporate Credit Facility. The Fed can also tap into $25 billion in funding assistance from the Treasury Department set aside by the Cares Act.

The Fed had also invested in 16 corporate bond exchange-traded funds, with a total value of $6.8 billion, as of June 18.

Read more: A market-crash expert known as 'Dr. Doom' warns a 10-year depression is coming — and says investors are far too confident about a possible recovery

Its biggest purchase was in the iShares iBoxx US Dollar Investment Grade Corporate Bond ETF: It invested close to $1.8 billion in the fund, buying about 13.3 million shares.

The Fed's program, which it revealed on March 23, was designed to help the economy remain afloat during the novel coronavirus pandemic. Investors flocked back to stocks and corporate debt after the announcement.

Even before the Fed made any purchases, the S&P 500 rallied from lows on hopes of a rapid economic recovery. It's up 35% since March 23.

The Fed's Primary Market Corporate Credit Facility, which it said would buy debt directly from firms, is not yet operational. When the program does begin, it is expected to take in about $500 billion worth of corporate debt.

Read more: The stock market's fear gauge is sending a persistent warning that has a 30-year track record of signaling meltdowns ahead