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Home Depot to issue $5B notes


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Home Depot to issue $5B notes

Home Depot Inc. is looking to raise $5 billion through an offering of four series of notes with varying maturity dates, according to a March 26 prospectus.

The U.S. home improvement chain is offering $750 million of its 2.500% notes due April 15, 2027, $1.5 billion of its 2.700% notes due April 15, 2030, $1.25 billion of its 3.300% notes due April 15, 2040, and $1.5 billion of its 3.350% notes due April 15, 2050.

Home Depot has priced the 2027 notes at 99.513% of the principal amount, the 2030 notes at 99.441% of the principal amount, the 2040 notes at 99.114% of the principal amount and the 2050 notes at 98.858% of the principal amount.

Interest on the notes will be paid April 15 and Oct. 15 of each year, starting Oct. 15.

BofA Securities Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc. and Goldman Sachs & Co. LLC are acting as the joint book-running managers in the offering.

Home Depot said it intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of its 3.95% notes due in September and its 1.80% notes due in June, as well as for the repurchase of its common stock, subject to market conditions and business considerations.

The notes were rated A by S&P Global Ratings.