Lowe’s plans to raise nearly $2 billon from debt sale
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Lowe’s has announced an agreement to sell $500 million of 1.625% notes due 2017, $750 million of 3.12% notes due 2022 and $750 million of 4.65% notes due 2042. Estimated net proceeds from this offering will be approximately $1.982 billion, after deducting offering expenses and underwriters' discounts. The net proceeds from the sale offering will be used for general corporate purposes, which may include repurchases of shares of common stock, capital expenditures, acquisitions and working capital needs, according to the retailer. Closing is expected to occur on April 23, 2012. Wells Fargo Securities, Goldman, Sachs & Co., and US
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