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: wfscustomerservice@wellsfargo.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: prospectus-ny@ny.email.gs.com;
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:
usdebtcapitalmarkets@rbccm.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.
About Lowe's
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.
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SOURCE Lowe's Companies, Inc.