Lowe’s Companies Inc (LOW) said on Tuesday that it had agreed to sell:
– $1.0 billion of 4.400% Notes due 2025,
– $1.25 billion of 5.000% Notes due 2033,
– $1.5 billion of 5.625% Notes due 2053 and
– $1.0 billion of 5.800% Notes due 2062.
The net proceeds from the sale are to be used for general corporate purposes, Lowe’s said.
The offering is expected to close on September 8th, depending on satisfaction of customary closing conditions.
Barclays Capital Inc, Goldman Sachs & Co. LLC, U.S. Bancorp Investments Inc and Wells Fargo Securities LLC are acting as joint book-running managers for the offering, Lowe’s said.
The shares of Lowe’s Companies Inc closed lower for a second consecutive trading session in New York on Tuesday. It has also been the steepest single-session loss since August 31st. The stock went down 1.30% ($2.55) to $192.96, after touching an intraday low at $191.25. The latter has been a price level not seen since August 3rd ($189.63).