Lowe’s Launches Cash Tender Offer

Home improvement retailer Lowe’s Companies has launched a cash tender offer for up to $1.6 billion combined aggregate principal amount of its outstanding notes. The purpose of the tender offer is to reduce the outstanding debt represented by the notes, and to reduce the company’s future interest expense. Notes that are accepted in offer will be purchased, retired and cancelled by the company, and will no longer represent outstanding obligations of the Company.

The offer includes 7.110% notes due 2037, 6.650% notes due 2037, 5.800% notes due 2036, 5.500% notes due 2035, 5.800% notes due 2040, 5.125% notes due 2041, 5.000% notes due 2043, 6.875% notes due 2028, 6.500% notes due 2029, and 4.625% notes due 2020.

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