MOORESVILLE, N.C., April 11, 2016 /PRNewswire/ — Lowe’s Companies, Inc. (NYSE: LOW) announced today it has agreed to sell $250 million of Floating Rate Notes due 2019, $350 million of 1.15% Notes due 2019, $1.35 billion of 2.50% Notes due 2026 and $1.35 billion of 3.70% Notes due 2046. Estimated net proceeds from this offering will be approximately $3.26 billion, after deducting offering expenses and underwriters’ discounts. Lowe’s plans to use the net proceeds from the sale of the Notes to fund its planned acquisition of RONA inc., for the repayment of $475 million aggregate principal amount at maturity of its 2.125% notes due April 15, 2016, for the repayment of $550 million aggregate principal amount at maturity of its 5.400% notes due October 15, 2016 and other general corporate purposes. Closing is expected to occur on April 20, 2016, subject to satisfaction of customary closing conditions.
Wells Fargo Securities, LLC, Goldman, Sachs & Co., U.S. Bancorp Investments, Inc., CIBC World Markets Corp. and RBC Capital Markets, LLC 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, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, Telephone: 1-800-645-3751, Email: email@example.com; Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attention: Prospectus Department, Telephone: 1-866-471-2526, Facsimile: 1-212-902-9316, Email: firstname.lastname@example.org; U.S. Bancorp Investments, Inc., 214 North Tryon Street, Charlotte, NC 28202, Attention: High Grade Syndicate, Telephone: 1-877-558-2607; CIBC World Markets Corp., 300 Madison Avenue, 5th Floor, New York, NY 10017, Attention: Debt Capital Markets, Telephone: 1-800-282-0822, Email: DLCIBCExecutionmanagement@cibc.com; or RBC Capital Markets, LLC, 200 Vesey Street, New York, NY 10281, Attention: Debt Capital Markets, Telephone: 1-866-375-6829, Email: email@example.com.
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.
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 16 million customers a week in the United States, Canada and Mexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2015 sales of $59.1 billion, Lowe’s has more than 1,855 home improvement and hardware stores and 270,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.
SOURCE Lowe’s Companies, Inc.