debt
confidence high
sentiment neutral
materiality 0.65
Lowe's issues $5B in four tranches of unsecured notes due 2027-2062
LOWES COMPANIES INC
- Issued $5B aggregate: $750M 3.35% notes due 2027, $1.5B 3.75% due 2032, $1.5B 4.25% due 2052, $1.25B 4.45% due 2062.
- Net proceeds approximately $4.956B after expenses and underwriting discount.
- Notes are unsecured and rank equally with existing senior unsecured debt.
- Make-whole call provisions with Treasury rate plus 15-30 bps before par call dates; at par thereafter.
- Holders may require repurchase at 101% upon a change-of-control triggering event.