Lowe’s prices $5 billion note offering

Lowe's Companies, Inc. reported that it has agreed to sell $750 million of 3.350% notes due 2027, $1.5 billion of 3.750% notes due 2032, $1.5 billion of 4.250% notes due 2052 and $1.25 billion of 4.450% notes due 2062.

The home improvement retail giant said it plans to use the net proceeds from the sale of the notes for general corporate purposes. 

Closing is expected to occur on March 24 subject to satisfaction of customary closing conditions.

BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.

The offering is being made under an effective registration statement on file with the Securities and Exchange Commission.

Based in Mooresville, N.C., Lowe’s reached 2021 sales of over $96 billion.

The retailer and its related businesses operate nearly 2,200 home improvement and hardware stores in the United States and Cana da while employing more than 300,000 associates.