Summary
The Home Depot, Inc. (HD) announced on September 6, 2017, that it entered into an Underwriting Agreement to issue $1 billion in aggregate principal amount of 2.800% Notes due September 14, 2027. This offering is being made under the company's existing shelf registration statement filed in August 2015. The company anticipates the offering will close on September 14, 2017, subject to standard closing conditions. The Underwriting Agreement contains typical provisions for such debt offerings, including representations, warranties, covenants, indemnification, and contribution clauses. This action signifies the company's strategy to raise capital through long-term debt, likely to fund ongoing operations, strategic initiatives, or for general corporate purposes.
Key Highlights
- 1Home Depot to issue $1 billion in 2.800% Notes maturing September 14, 2027.
- 2Debt offering is being conducted under a previously filed shelf registration statement.
- 3Underwriting agreement entered into on September 5, 2017, with several major underwriters.
- 4Closing of the offering is expected on September 14, 2017.
- 5Agreement includes customary representations, warranties, covenants, indemnification, and contribution provisions.
- 6This filing is related to the issuance of long-term debt to raise capital.