Summary
The Home Depot, Inc. (HD) filed an 8-K on January 7, 2021, to report the successful completion of a significant public offering of senior notes. The company raised a total of $3 billion through the issuance of three tranches of notes: $500 million in 0.900% Notes due 2028, $1.25 billion in 1.375% Notes due 2031, and $1.25 billion in 2.375% Notes due 2051. This offering was conducted under the company's existing shelf registration statement and signals a strategic move to secure long-term financing.
Key Highlights
- 1Home Depot successfully raised $3 billion in aggregate principal amount through a public offering of senior notes.
- 2The offering consisted of three tranches: 0.900% Notes due March 15, 2028 ($500M), 1.375% Notes due March 15, 2031 ($1.25B), and 2.375% Notes due March 15, 2051 ($1.25B).
- 3The notes were issued under the company's shelf registration statement filed in August 2018.
- 4An Underwriting Agreement was entered into on January 4, 2021, with BofA Securities, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC acting as underwriters.
- 5The offering utilized the existing Indenture dated May 4, 2005, with Bank of New York Mellon Trust Company, N.A. as Trustee.
- 6The filing includes customary representations, warranties, covenants, and indemnification provisions within the Underwriting Agreement.