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W.W. Grainger grosses $999.2 million from debt offering


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W.W. Grainger grosses $999.2 million from debt offering

W.W. Grainger Inc. raised gross proceeds of $999.2 million from an offering of 4.60% senior unsecured unsubordinated notes due June 15, 2045.

The company plans to use the proceeds for general corporate purposes or working capital, investment in securities, redemption or repayment of debt securities, and repurchase of securities.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the lead underwriters.

HSBC Securities (USA) Inc., Loop Capital Markets LLC, Merrill Lynch Pierce Fenner & Smith Inc., MUFG Securities Americas Inc., RBC Capital Markets LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC also served as underwriters for the offering.