MOORESVILLE, N.C.--(BUSINESS WIRE)--Nov. 16, 2011--
Lowe's Companies, Inc. (NYSE: LOW) announced today it has agreed to sell
$500 million of 3.80% Notes due 2021 and $500 million of 5.125% Notes
due 2041. Estimated net proceeds from this offering will be
approximately $991 million, after deducting offering expenses and
underwriters’ discounts. Lowe’s intends to use the net proceeds from the
notes offering for general corporate purposes, which may include
repurchases of shares of our common stock, capital expenditures,
acquisitions and working capital needs. Closing is expected to occur on
November 23, 2011.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated and SunTrust Robinson Humphrey, Inc. are acting as joint
book-running managers for the notes offering. This offering was made
under an effective registration statement on file with the Securities
and Exchange Commission. This press release is not an offer to sell or a
solicitation of an offer to buy these 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 J.P. Morgan Securities LLC, 383
Madison Avenue, New York, New York, 10179, Attention: High Grade
Syndicate Desk, 3rd Floor, telephone collect at 212-834-4533; Merrill
Lynch, Pierce, Fenner & Smith Incorporated, Attention: Prospectus
Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001,
toll-free at 800-294-1322, e-mail: firstname.lastname@example.org;
or SunTrust Robinson Humphrey, Inc., 3333 Peachtree Road, 11th Floor,
Mail Code: GA-ATLANTA-3947, Atlanta, GA 30326, Attn: Investment Grade
Debt Capital Markets, toll-free at 800-685-4786.
Disclosure Regarding Forward-Looking Statements
Included herein are forward-looking statements, including statements
with respect to an anticipated financing. There are many factors that
affect management's views about future events and trends of the business
and operations of the company, including changes to the economy and the
market for the offering, all as more thoroughly described in the
prospectus and related prospectus supplement and the company's filings
with the Securities and Exchange Commission. The company does not
undertake any obligation to update forward-looking information included
in this release or any of its public filings.
With fiscal year 2010 sales of $48.8 billion, Lowe's Companies, Inc. is
a FORTUNE® 50 company that serves approximately 15 million customers a
week at more than 1,725 home improvement stores in the United States,
Canada and Mexico. Founded in 1946 and based in Mooresville, N.C.,
Lowe's is the second-largest home improvement retailer in the world. For
more information, visit Lowes.com.
Source: Lowe's Companies, Inc.
Lowe's Companies, Inc.
Tiffany Mason, 704-758-2033
Chris Ahearn, 704-758-2304