Summary
The Home Depot, Inc. (HD) filed an 8-K report on September 16, 2004, detailing the company's issuance of $1 billion in 3.75% Senior Notes due September 15, 2009. These notes were issued through a private placement to qualified institutional buyers and non-U.S. persons, exempt from standard registration requirements under the Securities Act of 1933. The company also entered into a Registration Rights Agreement to subsequently offer freely tradeable exchange notes for these Senior Notes, with a commitment to file a registration statement within 90 days.
Key Highlights
- 1Home Depot issued $1 billion in 3.75% Senior Notes due September 15, 2009.
- 2The issuance was conducted via a private placement under Rule 144A and Regulation S.
- 3The notes carry an interest rate of 3.75% and mature in approximately five years.
- 4A Registration Rights Agreement mandates the subsequent registration of exchange notes.
- 5Home Depot is obligated to file a registration statement for exchange notes within 90 days.
- 6Failure to meet registration obligations could result in an additional annual interest of 0.25% on the Senior Notes.