Lowe’s in $3 Billion Offering

April 17, 2019

Cleary Gottlieb represented Lowe’s Companies Inc. (Lowe’s) in an SEC-registered debt offering of $1.5 billion aggregate principal amount of 3.65% senior notes due 2029 and $1.5 billion aggregate principal amount of 4.55% senior notes due 2049.

The offering was underwritten by a syndicate of investment banks led by Barclays Capital Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities LLC, and U.S. Bancorp Investments Inc. The transaction priced on April 3, 2019, and closed on April 5, 2019.

Lowe’s is a FORTUNE 50 home-improvement company serving more than 18 million customers a week in the United States, Canada, and Mexico. With fiscal year 2018 sales of $71.3 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores, and employ approximately 300,000 associates.