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Lowe's Companies, Inc. Issues an Aggregate of $2.0 Billion of Unsecured Notes

09/20/2021 | 04:38pm EDT

Lowe's Companies, Inc. issued an aggregate of $2.0 billion of unsecured notes, consisting of $1.0 billion aggregate principal amount of its 1.700% Notes due September 15, 2028 and $1.0 billion aggregate principal amount of its 2.800% Notes due September 15, 2041. The Company received net proceeds, after expenses and the underwriting discount, of approximately $1.981 billion from the issuance of the Notes. The Notes are governed by and were issued pursuant to the terms of an Amended and Restated Indenture, dated as of December 1, 1995 (the “Base Indenture”), between the Company and U.S. Bank National Association, as successor trustee, as supplemented by a Nineteenth Supplemental Indenture, dated as of September 20, 2021, between the Company and the Trustee and, the Base Indenture as supplemented by the Nineteenth Supplemental Indenture, the “Indenture”). The Notes are unsecured obligations and rank equally with the Company’s existing and future unsecured senior indebtedness. The Indenture contains covenants restricting the issuance of debt by the Company’s subsidiaries but does not restrict the Company from incurring additional indebtedness. Each series of the Notes is a new issue of securities with no established trading market. The Company does not intend to apply for the listing of any series of the Notes on any securities exchange or for quotation of such Notes on any automated dealer quotation system. The 2028 Notes will mature on September 15, 2028 and the 2041 Notes will mature on September 15, 2041, in each case, unless earlier redeemed or repurchased by the Company. The 2028 Notes will bear interest at a rate of 1.700% per annum and the 2041 Notes will bear interest at a rate of 2.800% per annum. The Company will pay interest on the Notes semiannually in arrears on March 15 and September 15, commencing March 15, 2022. Interest will be computed on the basis of a 360-day year composed of twelve 30-day months. Payments of principal and interest to owners of book-entry interests will be made in accordance with the procedures of The Depository Trust Company and its participants in effect from time to time.

© S&P Capital IQ 2021
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Analyst Recommendations on LOWE'S COMPANIES, INC.
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Financials (USD)
Sales 2022 92 932 M - -
Net income 2022 7 960 M - -
Net Debt 2022 23 086 M - -
P/E ratio 2022 19,3x
Yield 2022 1,33%
Capitalization 152 B 152 B -
EV / Sales 2022 1,88x
EV / Sales 2023 1,89x
Nbr of Employees 280 000
Free-Float 99,9%
Duration : Period :
Lowe's Companies, Inc. Technical Analysis Chart | LOW | US5486611073 | MarketScreener
Technical analysis trends LOWE'S COMPANIES, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 32
Last Close Price 219,16 $
Average target price 228,74 $
Spread / Average Target 4,37%
EPS Revisions
Managers and Directors
Marvin R. Ellison Chairman, President & Chief Executive Officer
David M. Denton Chief Financial Officer & Executive Vice President
Seemantini Godbole Chief Information Officer & Executive VP
Jeff R. Vining Chief Compliance Officer & Senior Vice President
Ralph Alvarez Independent Director
Sector and Competitors