Summary
The Home Depot, Inc. (HD) announced on June 17, 2024, that it has entered into an Underwriting Agreement for a substantial public offering of notes. This offering encompasses nine tranches of debt with aggregate principal amounts totaling $9.5 billion, ranging in maturity from December 2025 to June 2064 and carrying fixed interest rates or a floating rate. This move signals the company's strategy to manage its capital structure and potentially fund ongoing operations, strategic initiatives, or refinance existing debt.
Key Highlights
- 1Home Depot is conducting a public offering of $9.5 billion in aggregate principal amount of notes.
- 2The notes offered have varying maturities, from short-term (December 2025) to long-term (June 2064).
- 3Interest rates on the notes range from a floating rate to fixed rates up to 5.400%.
- 4The offering is being made under the company's existing shelf registration statement filed in August 2021.
- 5J.P. Morgan Securities LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, and Morgan Stanley & Co. LLC are acting as the underwriters.
- 6The offering is expected to close on June 25, 2024, subject to customary closing conditions.