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Lowe’s intends to price three tranches of fixed-rate notes
By Devika Patel
Knoxville, Tenn., Oct. 7 – Lowe's Cos., Inc. intends to price 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.
Barclays, Goldman Sachs & Co. LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the bookrunners.
The Mooresville, N.C.-based home improvement company will use the proceeds to finance a tender offer to purchase for cash up to $3.5 billion of 7.11% notes due 2037, 6.65% notes due 2037, 5.8% notes due 2036, 5.8% notes due 2040, 5.125% notes due 2050, 5% notes due 2043, 5.125% notes due 2041, 4.55% notes due 2049, 5% notes due 2040, 4.375% notes due 2045, 4.65% notes due 2042, 4.25% notes due 2044, 4.05% notes due 2047, 5.5% notes due 2035, 7.2% notes due 2027, 6.875% notes due 2028, 6.5% notes due 2029 and 4.5% notes due 2030.
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