Lowe’s Prices $2.0 Billion Notes Offering
Published on Monday, 16 April 2012 17:15 Written by TradersHuddle StaffMOORESVILLE, N.C.-( Business Wire )-
Lowe's Companies, Inc. (NYSE: LOW) announced today it has agreed to sell $500 million of 1.625% Notes due 2017, $750 million of 3.12% Notes due 2022 and $750 million of 4.65% Notes due 2042. Estimated net proceeds from this offering will be approximately $1.982 billion, after deducting offering expenses and underwriters’ discounts. Lowe’s intends to use the net proceeds from the notes offering for general corporate purposes, which may include repurchases of shares of our common stock, capital expenditures, acquisitions and working capital needs. Closing is expected to occur on April 23, 2012.
Disclosure Regarding Forward-Looking Statements
Included herein are forward-looking statements, including statements with respect to an anticipated financing. There are many factors that affect management's views about future events and trends of the business and operations of the company, including changes to the economy and the market for the offering, all as more thoroughly described in the prospectus and related prospectus supplement and the company's filings with the Securities and Exchange Commission. The company does not undertake any obligation to update forward-looking information included in this release or any of its public filings.
With fiscal year 2011 sales of $50.2 billion, Lowe's Companies, Inc. is a FORTUNE® 50 company that serves approximately 15 million customers a week at more than 1,745 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world.
- Microsoft announces quarterly dividend increase and share repurchase program
- Shell Brazil chooses Windows Phone to lower costs and increase employee productivity
- Banks put customers first with Microsoft Dynamics CRM
- Bing.com and FOX News team up to bring real-time online polling to nightly news; Bing Pulse featured on "Special Report with Bret Baier"
- Industry partners showcase new financial services apps for Windows 8 and Windows Phone 8
- Microsoft launches worldwide Office 365 donation program for nonprofits
- InvestorsObserver releases comments on Microsoft, Toyota, Kroger, Sears Holdings, and Men's Wearhouse
- Microsoft launches Xbox Music across iOS and Android, adds free streaming on the Web
- NI Technology Research Updates Outlooks for Ciena, Finisar, Microsoft and Nokia
- Microsoft to acquire Nokia's Devices & Services business, license Nokia's patents and mapping services
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines