Lowe's Prices $2 Billion Notes Offering

Rhea-AI Summary

Lowe's Companies, Inc. (NYSE: LOW) announced on Sept. 13, 2021, its agreement to sell $1 billion of 1.700% Notes due 2028 and $1 billion of 2.800% Notes due 2041. The net proceeds from this $2 billion offering will be used for general corporate purposes. The closing date is expected to be on September 20, 2021, pending customary conditions. Barclays Capital, Goldman Sachs, U.S. Bancorp, and Wells Fargo are managing the offering, which is made under an effective registration statement with the SEC.

Positive

• The issuance of $2 billion in notes indicates strong market confidence in Lowe's financial stability.
• Proceeds to be used for general corporate purposes may enhance operational flexibility.

Negative

• None.

MOORESVILLE, N.C., Sept. 13, 2021 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) announced today it has agreed to sell $1 billion of 1.700% Notes due 2028 and $1 billion of 2.800% Notes due 2041 (collectively, the "Notes"). Lowe's plans to use the net proceeds from the sale of the Notes for general corporate purposes. Closing is expected to occur on September 20, 2021, 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.

This offering was made under an effective registration statement on file with the Securities and Exchange Commission. This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase any 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 Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 888-603-5847, Email: barclaysprospectus@broadridge.com; Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282-2198, Attention: Prospectus Department, Telephone: 866-471-2526, Email: Prospectus-ny@ny.email.gs.com; U.S. Bancorp Investments, Inc., 214 N. Tryon Street, 26th Floor, Charlotte, North Carolina 28202, Attention: Credit Fixed Income, Telephone: 1-877-558-2607; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, Telephone: 1-800-645-3751, Email: wfscustomerservice@wellsfargo.com.

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, 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 included in this release or any of its public filings.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 20 million customers a week in the United States and Canada. With fiscal year 2020 sales of nearly $90 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts.

LOW-IR

Contacts:	Shareholder / Analyst Inquiries:	Media Inquiries:
	Kate Pearlman	Jackie Pardini Hartzell
	704-775-3856	704-758-4317
	kate.pearlman@lowes.com	jaclyn.pardini@lowes.com

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SOURCE Lowe's Companies, Inc.

FAQ

What is the purpose of Lowe's recent $2 billion notes offering?

Lowe's plans to use the net proceeds from the $2 billion notes offering for general corporate purposes.

When is the closing date for Lowe's notes offering?

The closing date for Lowe's notes offering is expected to be September 20, 2021.

What are the interest rates for Lowe's new notes?

Lowe's is issuing $1 billion of 1.700% Notes due 2028 and $1 billion of 2.800% Notes due 2041.

Who are the managing underwriters for Lowe's notes offering?

Barclays Capital, Goldman Sachs, U.S. Bancorp Investments, and Wells Fargo Securities are managing the offering.

What is Lowe's stock symbol?

Lowe's stock symbol is LOW.