Lowe’s Companies, Inc. (NYSE: LOW) announced it has agreed to sell $1.5 billion of 2.625% Notes due 2031 and $500 million of 3.500% Notes due 2051 (collectively, the “Notes”). Estimated net proceeds from this offering will be approximately $1.984 billion, after deducting offering expenses and underwriters’ discounts. Lowe’s plans to use the net proceeds from the sale of the Notes for general corporate purposes. Closing is expected to occur on March 31, 2021, subject to satisfaction of customary closing conditions.
BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC are acting as joint book-running managers for the offering.
This offering was made under an effective registration statement on file with the Securities and Exchange Commission. This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase any securities. Any offers to sell, or solicitations to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission. A copy of the prospectus and related prospectus supplement for this offering may be obtained from BofA Securities, Inc., 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001, Attention: Prospectus Department, telephone: 1-800-294-1322, email: firstname.lastname@example.org; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146, email: email@example.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone: 1-866-803-9204; or Mizuho Securities USA LLC, 1271 Avenue of the Americas, New York, NY 10020, Attention: Debt Capital Markets, telephone: 1-866-271-7403.