Lowe’s intends to price three tranches of fixed-rate notes

By Devika Patel

Knoxville, Tenn., March 24 – Lowe's Cos., Inc. intends to price dollar-denominated fixed-rate notes in three tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp. are the bookrunners.

The Mooresville, N.C.-based home improvement company will use the proceeds to repay at maturity its $500 million of 4.625% notes due April 15, 2020 and for general corporate purposes.

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