New Issue - Lowe's Cos sells $1.3 bln in 3 parts

Related Topics

Thu Sep 6, 2007 6:18pm EDT

 Sept 6 (Reuters) - Lowe's Companies, Inc. (LOW.N) the
world's second largest home improvement retailer, on Thursday
sold $1 billion in three parts, said market sources.
 The size of the deal was increased from an originally
planned $1 billion.
 J.P. Morgan, Merrill Lynch, and Wachovia Capital Markets
were the joint lead managers for the sale, the sources said.
BORROWER: LOWE'S COMPANIES INC
AMT $550 MLN       COUPON 5.60 PCT   MATURITY 9/15/2012    
TYPE NOTES         ISS PRICE 99.831  FIRST PAY 3/15/2008  
MOODY'S A1         YIELD 5.639 PCT   SETTLEMENT 9/11/2007 
S&P SINGLE-A-PLUS  SPREAD 143 BPS    PAY FREQ SEMI-ANNUAL 
FITCH N/A           MORE THAN TREAS  MAKE-WHOLE CALL 20 BPS
                                    MORE THAN TREAS
AMT $250 MLN       COUPON 6.10 PCT   MATURITY 9/15/2017   
TYPE NOTES         ISS PRICE 99.918  FIRST PAY 3/15/2008  
MOODY'S A1         YIELD 6.111 PCT   SETTLEMENT 9/11/2007 
S&P SINGLE-A-PLUS  SPREAD 160 BPS    PAY FREQ SEMI-ANNUAL 
FITCH N/A           MORE THAN TREAS  MAKE-WHOLE CALL 25 BPS
                                   MORE THAN TREAS
AMT $500 MLN       COUPON 6.65 PCT   MATURITY 9/15/2012   
TYPE BONDS         ISS PRICE 99.587  FIRST PAY 3/15/2008  
MOODY'S A1         YIELD 6.682 PCT   SETTLEMENT 9/11/2007 
S&P SINGLE-A-PLUS  SPREAD 188 BPS    PAY FREQ SEMI-ANNUAL 
FITCH N/A           MORE THAN TREAS  NON-CALLABLE
* $101 COC PUT
(New Issue by Reuters; Email: uscorpbonds@reuters.com;
1-914-989-5443))

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.