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: barclaysprospectus@broadridge.com;
Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282-2198, Attention:
Prospectus Department, Telephone: 866-471-2526, Email:
Prospectus-ny@ny.email.gs.com; 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; 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.
About Lowe's
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.
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SOURCE Lowe's Companies, Inc.