Lowe's offering $2 billion in notes

Proceeds will be used for general corporate purposes.
Andy Carlo
LBM Editor
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Lowe's Companies, Inc. announced that it has agreed to sell $1 billion worth of 1.700% notes due in 2028 and $1 billion in $2.800% notes due in 2041.

Proceeds from the sale will be used for general corporate purposes, the home improvement retailer reported.

Closing of the offering is expected to occur on Sept. 20, subject to satisfaction of customary closing conditions.

Barclays Capital Inc., Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.

Lowe's had 2020 sales of nearly $90 billion. Based in Mooresville, N.C., the company operates more than 2,200 locations with over 300,000 associates.