Lowe’s in $5 Billion Offering

Cleary Gottlieb represented Lowe’s Companies Inc. (Lowe’s) in an aggregate $5 billion SEC-registered debt offering comprised of $750 million aggregate principal amount of 3.35% senior notes due 2027, $1.5 billion aggregate principal amount of 3.75% senior notes due 2032, $1.5 billion aggregate principal amount of 4.25% senior notes due 2052, and $1.25 billion aggregate principal amount of 4.45% senior notes due 2062.

The offering was underwritten by a syndicate led by BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and RBC Capital Markets LLC. The transaction priced on March 22, 2022, and closed on March 24, 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.