Green Bond Proceeds will Support Key
Environmental Initiatives, Reinforcing Walmart’s Mission to Drive
Collective Climate Action
Minority- and Women-Owned Firms Served as
Active Bookrunners
Walmart Inc. (NYSE: WMT) today announced it has successfully
priced the company's first green bond. Net proceeds from the $2
billion green bond offering will be used to fund existing and
future projects that enable Walmart to achieve its sustainability
goals.
Over the next few years, Walmart intends to allocate an amount
equal to the net proceeds of the $2 billion offering toward a
portfolio of Eligible Green Investments that meet certain
eligibility criteria within the areas of renewable energy, high
performance buildings, sustainable transport, zero waste and
circular economy, water stewardship, and habitat restoration and
conservation.
Walmart will issue a public report with information on
allocation to and estimated impact of the Eligible Green
Investments on an annual basis until an amount equal to the net
proceeds of the green bond has been allocated. An outside
consultant with recognized expertise in environmental, social and
governance research and analysis has issued, and made publicly
available, a second party opinion in respect of the alignment of
eligibility criteria of the type described above with the Green
Bond Principles, and the company’s external auditor EY will provide
an assurance report on each allocation report.
The green bond is part of $7 billion of new senior unsecured
notes that the company successfully priced across 5-, 7-, 10-, 20-
and 30-year tranches.
Leading the green bond as active bookrunners were four
nationally recognized minority- and women-owned firms including
African-American and service-disabled veteran-owned AmeriVet
Securities, Inc., women-owned C.L. King & Associates, Inc.,
Hispanic-owned Samuel A. Ramirez & Company, Inc. and African
American- and women-owned Siebert Williams Shank & Co., LLC.
BofA Securities, Inc., Citigroup Global Markets Inc. and Morgan
Stanley & Co. LLC also served as active bookrunners on the
green bond. BofA Securities, Inc. was the Green Structuring Agent,
while Citigroup Global Markets Inc. served as Diversity and
Inclusion Coordinator.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, approximately
220 million customers and members visit approximately 10,500 stores
and clubs under 48 banners in 24 countries and eCommerce websites.
With fiscal year 2021 revenue of $559 billion, Walmart employs more
than 2.2 million associates worldwide. Walmart continues to be a
leader in sustainability, corporate philanthropy and employment
opportunity.
Forward-Looking Statements
This press release is not a prospectus or an offer to sell
securities. The offerings are being made by means of the
prospectuses only. Walmart Inc. (“we,” the “Company” or “Walmart”)
has filed a registration statement (including a preliminary
prospectus) on Form S-3 with the Securities and Exchange Commission
(the "SEC") for each of the offerings to which this press release
relates. Before you invest, you should read the applicable
preliminary prospectus in that registration statement and other
documents we have filed with the SEC for more complete information
about the Company and the offerings. You can obtain these documents
for free by visiting EDGAR on the SEC website at www.sec.gov.
This press release contains statements or may include statements
that may be deemed to be "forward-looking statements" within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended (the "Act"), that are intended to enjoy the protection of
the safe harbor for forward-looking statements provided by the Act
as well as protections afforded by other federal securities laws.
With respect to our ESG reporting, our actual future results,
including the achievement of our targets, goals or commitments,
could differ materially from our projected results as the result of
changes in circumstances, assumptions not being realized, or other
risks, uncertainties and factors. Assumptions on which such
forward-looking statements are based are also forward-looking
statements. Such forward-looking statements are not statements of
historical facts, but instead express our estimates or expectations
for our consolidated, or one of our segment's or business’,
economic performance or results of operations for future periods or
as of future dates or events or developments that may occur in the
future or discuss our plans, objectives or goals, including ESG
reporting that contains certain forward-looking statements based on
Walmart management’s current assumptions and expectations,
including statements regarding our ESG targets, goals, commitments
and programs and other business plans, initiatives and objectives.
These statements are typically accompanied by the words “aim,”
“hope,” “believe,” “estimate,” “plan,” “aspire” or similar words.
Our actual results may differ materially from those expressed in or
implied by any of these forward-looking statements as a result of
changes in circumstances, assumptions not being realized or other
risks, uncertainties and factors including: the use of proceeds of
the offering and the provision of certain related opinions and
assurance reports; the impact of the COVID-19 pandemic on our
business and the global economy; economic, capital markets and
business conditions; trends and events around the world and in the
markets in which we operate; currency exchange rate fluctuations,
changes in market interest rates and market levels of wages;
changes in the size of various markets, including eCommerce
markets; unemployment levels; inflation or deflation, generally and
in particular product categories; consumer confidence, disposable
income, credit availability, spending levels, shopping patterns,
debt levels and demand for certain merchandise; the effectiveness
of the implementation and operation of our strategies, plans,
programs and initiatives; unexpected changes in our objectives and
plans; the impact of acquisitions, investments, divestitures, and
other strategic decisions; our ability to successfully integrate
acquired businesses; changes in the trading prices of certain
equity investments we hold; initiatives of competitors,
competitors' entry into and expansion in our markets, and
competitive pressures; customer traffic and average transactions in
our stores and clubs and on our eCommerce websites; the mix of
merchandise we sell, the cost of goods we sell and the shrinkage we
experience; our gross profit margins; the financial performance of
Walmart and each of its segments, including the amounts of our cash
flow during various periods; the amount of our net sales and
operating expenses denominated in the U.S. dollar and various
foreign currencies; commodity prices and the price of gasoline and
diesel fuel; supply chain disruptions and disruptions in seasonal
buying patterns; the availability of goods from suppliers and the
cost of goods acquired from suppliers; our ability to respond to
changing trends in consumer shopping habits; consumer acceptance of
and response to our stores, clubs, eCommerce platforms, programs,
merchandise offerings and delivery methods; cyber security events
affecting us and related costs and impact to the business;
developments in, outcomes of, and costs incurred in legal or
regulatory proceedings to which we are a party or are subject, and
the liabilities, obligations and expenses, if any, that we may
incur in connection therewith; casualty and accident-related costs
and insurance costs; the turnover in our workforce and labor costs,
including healthcare and other benefit costs; our effective tax
rate and the factors affecting our effective tax rate, including
assessments of certain tax contingencies, valuation allowances,
changes in law, administrative audit outcomes, impact of discrete
items and the mix of earnings between the U.S. and Walmart's
international operations; changes in existing tax, labor and other
laws and regulations and changes in tax rates including the
enactment of laws and the adoption and interpretation of
administrative rules and regulations; the imposition of new taxes
on imports, new tariffs and changes in existing tariff rates; the
imposition of new trade restrictions and changes in existing trade
restrictions; adoption or creation of new, and modification of
existing, governmental policies, programs, initiatives and actions
in the markets in which Walmart operates and elsewhere and actions
with respect to such policies, programs and initiatives; changes in
accounting estimates or judgments; the level of public assistance
payments; natural disasters, changes in climate, geopolitical
events, global health epidemics or pandemics and catastrophic
events; and changes in generally accepted accounting principles in
the United States.
Our most recent annual report on Form 10-K and subsequent
quarterly report on Form 10-Q filed with the SEC discuss other
risks and factors that could cause actual results to differ
materially from those expressed or implied by any forward-looking
statement in this press release. In addition, with respect to our
ESG targets, goals and commitments outlined in this press release
or elsewhere, such risks, uncertainties and factors include the
challenges, assumptions and dependencies identified in our ESG
issue briefs under the heading Challenges and other assumptions,
risks, uncertainties and factors identified in our reporting. We
urge you to consider all of the risks, uncertainties and factors
identified above or discussed in such reports carefully in
evaluating the forward-looking statements in this press release.
Walmart cannot assure you that the results reflected in or implied
by any forward-looking statement will be realized or, even if
substantially realized, that those results will have the forecasted
or expected consequences and effects for or on our operations or
financial performance. The forward-looking statements made herein
are as of the date of this press release. Walmart undertakes no
obligation to update these forward-looking statements to reflect
subsequent events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20210908006145/en/
Investor Relations contact Dan Binder, CFA (479) 258-7172 Media
Relations contact Randy Hargrove (800) 331-0085
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