Lowe’s Prices $2.0 Billion Notes Offering

Published on Monday, 16 April 2012 17:15 Written by TradersHuddle Staff

MOORESVILLE, 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.

Wells Fargo Securities, LLC., Goldman, Sachs & Co. and US Bancorp Investments, Inc. are acting as joint book-running managers for the notes offering. This offering was made under an effective registration statement on file with the Securities and Exchange Commission. This press release is not an offer to sell or a solicitation of an offer to buy these securities. Any offers to sell, or solicitations to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission. A copy of the prospectus and related prospectus supplement for this offering may be obtained from Wells Fargo Securities, LLC, Syndicate Operations, 1525 West W.T. Harris Boulevard, NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, 1-800-326-5897; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or U.S. Bancorp Investments, Inc., Head of Syndicate, 214 North Tryon Street, 26th Floor, Charlotte, NC 28202, 1-877-558-2607.

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.

About Lowe’s

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.

Shareholders’/Analysts’ Inquiries:Tiffany Mason, 704-758-2033tiffany.l.mason@lowes.comorMedia Inquiries:Chris This e-mail address is being protected from spambots. You need JavaScript enabled to view it.