By Andrea Heisinger
New York, March 24 - Wal-Mart Stores Inc. priced $2 billion of senior notes (Aa2/AA/) in two tranches late on Wednesday, a source close to the sale said.
The $750 million of 2.875% five-year notes priced at 99.309 to yield 3.025% with a spread of Treasuries plus 45 basis points.
A $1.25 billion tranche of 5.625% 30-year bonds were sold at 99.155 to yield 5.684% with a spread of 95 bps over Treasuries.
Both tranches are non-callable.
Active bookrunners were Citigroup Global Markets Inc., Goldman Sachs & Co. and Wells Fargo Securities. Passive bookrunners were BNP Paribas Securities Corp., HSBC Securities and UBS Investment Bank.
Proceeds will be used for general corporate purposes.
The retailer is based in Bentonville, Ark.
| Issuer: | Wal-Mart Stores Inc.
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., Wells Fargo Securities (active), BNP Paribas Securities Corp., HSBC Securities, UBS Investment Bank (passive)
|
| Trade date: | March 24
|
| Settlement date: | April 1
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | April 1, 2015
|
| Coupon: | 2.875%
|
| Price: | 99.309
|
| Yield: | 3.025%
|
| Spread: | Treasuries plus 45 bps
|
| Call: | Non-callable
|
|
|
| 30-year bonds
|
| Amount: | $1.25 billion
|
| Maturity: | April 1, 2040
|
| Coupon: | 5.625%
|
| Price: | 99.155
|
| Yield: | 5.684%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Non-callable
|
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