Walmart latest to tap bond market with $5 bln offerings

Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration

Sept 7 (Reuters) - Walmart Inc (WMT.N) will raise $5 billion in bond offerings, joining a host of big retailers and restaurant chains to tap the debt market ahead of the U.S. Federal Reserve's next potential rate move.

A company filing showed on Wednesday that its bonds will be due between 2025 and 2052 and have a coupon rate of between 3.9% and 4.5%.

The Federal Open Market Committee Meeting is scheduled for September 20-21, where the Fed is expected to decide on whether to go for another 75bp rate increase.

IFR reported on Tuesday that at least 19 investment-grade bond deals were expected to price, as issuers and investors get ready for what is expected to be a busy post-Labor Day session.

Target Corp (TGT.N)is offering $1 billion in notes due 2032, while McDonald's Corp (MCD.N)is offering about $1.5 billion in two-part bonds due 2052 and 2032, the companies disclosed in separate filings on Tuesday. read more

Separately, Lowe's Cos Inc (LOW.N) also announced the pricing of a four-part notes offering at $4.75 billion and Dollar General (DG.N) priced four-part senior notes worth $2.3 billion.

Reporting by Uday Sampath and Mehr Bedi in Bengaluru; Editing by Sherry Jacob-Phillips and Anil D'Silva

Our Standards: The Thomson Reuters Trust Principles.