Lowe's to price two-tranche sale of fixed-rate notes due 2029, 2049

By Devika Patel

Knoxville, Tenn., April 3 – Lowe's Cos., Inc. intends to price a sale of fixed-rate notes in two tranches due 2029 and 2049, according to a 424B5 filed with the Securities and Exchange Commission.

The notes will have make-whole calls until three months prior to maturity for the 2029 notes and six months prior to maturity for the 2049 notes and par calls after those dates.

Barclays, Goldman Sachs & Co., Wells Fargo Securities LLC and U.S. Bancorp Investments Inc. are the bookrunners.

The Mooresville, N.C.-based home improvement company will use the proceeds to repay at maturity its $600 million of 1.15% fixed-rate notes and 3.0273% floating-rate notes due April 15, 2019 and its $450 million of 3.0206% floating-rate notes due Sept. 10, 2019 and for general corporate purposes.

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