Summary
The Home Depot, Inc. (HD) filed an 8-K on June 4, 2019, to announce the execution of an Underwriting Agreement for a public offering of senior notes. The company plans to issue $1 billion in 2.950% Notes due June 15, 2029, and $400 million in 3.900% Notes due June 15, 2047, for a total of $1.4 billion in debt. This offering utilizes the company's existing shelf registration statement. The offering is expected to close on June 17, 2019, subject to standard closing conditions. The Underwriting Agreement, filed as an exhibit, outlines the terms between Home Depot and the representatives of the underwriters, including customary representations, warranties, covenants, and indemnification provisions. Investors should note that this filing primarily pertains to the terms of the debt issuance itself.
Key Highlights
- 1Home Depot is issuing $1.4 billion in aggregate principal amount of senior notes.
- 2The notes consist of $1 billion of 2.950% Notes due 2029 and $400 million of 3.900% Notes due 2047.
- 3The offering is being conducted under the company's existing shelf registration statement.
- 4The Underwriting Agreement was entered into on June 3, 2019, with a group of underwriters led by Barclays Capital Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC.
- 5The offering is expected to close on June 17, 2019, contingent upon customary closing conditions.
- 6The Underwriting Agreement contains standard provisions such as representations, warranties, covenants, and indemnification.
- 7The filing is primarily focused on the terms of the debt offering, not on new operational or financial performance updates.