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Lowe’s to sell $1.25 billion of notes


Mooresville, N.C. - Lowe's Companies Inc. has agreed to sell $450 million of floating rate notes due 2019, $450 million of 3.125% notes due 2024 and $350 million of 4.250% notes due 2044. Estimated net proceeds from this offering will be approximately $1.24 billion, after deducting offering expenses and underwriters' discounts.

Lowe's intends to use the net proceeds from the sale of the Notes for general corporate purposes. Closing is expected to occur on Sept. 10, 2014. Goldman, Sachs & Co., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the notes offering.

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