Cleary Gottlieb represented Lowe’s Companies Inc. (Lowe’s) in an aggregate $4.75 billion SEC-registered debt offering comprised of $1 billion aggregate principal amount of 4.4% senior notes due 2025, $1.25 billion aggregate principal amount of 5% senior notes due 2033, $1.5 billion aggregate principal amount of 5.625% senior notes due 2053, and $1 billion aggregate principal amount of 5.8% senior notes due 2062.
The offering was underwritten by a syndicate led by Barclays Capital Inc., Goldman Sachs & Co. LLC, U.S. Bancorp Investments LLC, and Wells Fargo Securities LLC. The transaction priced on September 6, 2022, and closed on September 8, 2022.
Lowe’s is a Fortune 50 home improvement company serving approximately 19 million customer transactions a week in the United States and Canada. With fiscal year 2021 sales of over $96 billion, Lowe’s and its related businesses operate or service nearly 2,200 home improvement and hardware stores and employ over 300,000 associates.