MOORESVILLE, N.C., April 3, 2019 /PRNewswire/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today it has agreed to sell $1.5 billion of 3.650% Notes due 2029 and $1.5 billion of 4.550% Notes due 2049 (collectively, the “Notes”). Estimated net proceeds from this offering will be approximately $2.97 billion, after deducting offering expenses and underwriters’ discounts. Lowe’s plans to use the net proceeds from the sale of the Notes (i) for the repayment of $600 million aggregate principal amount at maturity of its Fixed 1.15% and Floating 3.0273% Notes due April 15, 2019, (ii) for the repayment of its $450 million Floating 3.0206% Notes due September 10, 2019 and (iii) for other general corporate purposes. Closing is expected to occur on April 5, 2019, subject to satisfaction of customary closing conditions.
Barclays Capital Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities, LLC and U.S. 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 shall not constitute an offer to sell, a solicitation to buy or an offer to purchase any 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 Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 888-603-5847, Email: email@example.com; Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282-2198, Attention: Prospectus Department, Telephone: 866-471-2526, Email: Prospectusfirstname.lastname@example.org; Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, Telephone: 1-800-645-3751, Email: email@example.com; or U.S. Bancorp Investments, Inc., 214 N. Tryon Street, 26th Floor, Charlotte, North Carolina 28202, Attention: Credit Fixed Income, Telephone: 1-877-558-2607.
Disclosure Regarding Forward-Looking Statements
Included herein are forward-looking statements, including statements with respect to an anticipated financing and repayment of debt. There are many factors that affect management’s views about future events and trends of the business and operations of the company, all as more thoroughly described in 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.
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a week in the United States, Canada and Mexico. With fiscal year 2018 sales of $71.3 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports its hometown Charlotte region and all communities it serves through programs focused on safe, affordable housing and careers in the skilled trades. For more information, visit Lowes.com.
SOURCE Lowe’s Companies, Inc.