Walmart Inc. is seeking to raise $1.5 billion of debt through a bond offering, according to a prospectus filed Sept. 19.
The U.S. retail giant is offering $1 billion of 2.950% notes due 2049 and another $500 million of 2.375% notes due 2029.
Walmart priced the 2029 notes at 99.894% of the aggregate principal amount and the 2049 notes at 98.528% of the aggregate principal amount.
The interest rate on the two series of notes will be paid every March 24 and September 24 of each year, starting March 24, 2020.
Walmart expects to see net proceeds of about $1.47 billion from the offering, which the retailer plans to use for general corporate purposes, including repayment, refinancing or replacement of maturing debt.
Barclays Capital Inc., BofA Securities Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are all serving as joint book runners for the offering.
The notes were rated AA by S&P Global Ratings, Aa2 by Moody's and AA by Fitch.
