MOORESVILLE, N.C., Oct. 3 /PRNewswire-FirstCall/ -- Lowe's Companies, Inc.
(NYSE: LOW) announced today that it has agreed to sell $550 million of 5.40%
Notes due 2016 and $450 million of 5.80% Notes due 2036. The net proceeds of
the notes offering will be used for general corporate purposes, including
capital expenditures and working capital needs, and to finance repurchases of
Lowe's common stock. Closing is expected to occur on October 10, 2006.
Merrill Lynch & Co., Banc of America Securities LLC and Wachovia
Securities 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 nor is it a solicitation of an offer to buy any securities. Any offers,
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 your salesperson at Merrill Lynch, Pierce,
Fenner & Smith Incorporated, 4 World Financial Center, Prospectus Department,
New York, NY 10080; Banc of America Securities LLC, Prospectus Department, 100
West 33rd St., New York, NY 10001; or Wachovia Securities, Debt Syndicate, 301
South College St., 7th Floor, Charlotte, NC 28288.
With fiscal year 2005 sales of $43.2 billion, Lowe's Companies, Inc. is a
FORTUNE(R) 50 company that serves approximately 12 million customers a week at
more than 1,275 home improvement stores in 49 states. Based in Mooresville,
N.C., the 60-year old company is the second-largest home improvement retailer
in the world.
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 Company's filings with
the Securities and Exchange Commission. The Company does not undertake any
obligation to update forward-looking information made in this release or any
of its public filings.
SOURCE Lowe's Companies, Inc.
/CONTACT: Shareholders-Analysts, Robbin Moore, +1-704-758-3579, or Media,
Chris Ahearn, +1-704-758-2304, both of Lowe's Companies, Inc./
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, firstname.lastname@example.org /
/Web site: http://www.lowes.com /
CO: Lowe's Companies, Inc.
ST: North Carolina
IN: REA CST
SU: OFR FNC
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