Home Depot Inc. is offering $750 million of 2.950% notes due 2029 and $1.25 billion of 3.125% notes due 2049, according to a Jan. 6 release.
The $750 million principal amount of the 2029 notes will be part of a single series of senior debt securities with the $1 billion principal amount of the 2.950% notes due 2029 issued on June 17, 2019. After the issuance of the newly launched notes, the outstanding principal amount of the series of notes will be $1.75 billion.
The Atlanta-based home improvement retailer plans to use the net proceeds for general corporate purposes, including repurchases of shares of its common stock, subject to market conditions and other business considerations.
The settlement date for both offerings is on Jan. 13.
BofA Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC act as joint book-running managers for both offerings.
Moody's issued an A2 rating to Home Depot's proposed senior unsecured notes.