Summary
This Form 8-K filing by Lowe's Companies, Inc. reports on a material definitive agreement related to the issuance and sale of $1 billion in aggregate principal amount of notes. Specifically, the Company entered into an Underwriting Agreement to sell $500 million of 3.875% Notes due 2023 and $500 million of 5.000% Notes due 2043. This debt offering aims to raise capital for the company. The notes were registered under the Securities Act of 1933, and the sale was expected to close on September 11, 2013. The filing also notes customary provisions within the underwriting agreement, including representations, warranties, covenants, closing conditions, indemnification, and termination rights, as well as ongoing business relationships between the company and the underwriters' affiliates.
Key Highlights
- 1Lowe's Companies, Inc. entered into an Underwriting Agreement to issue $1 billion in aggregate principal amount of new notes.
- 2The offering consists of $500 million in 3.875% Notes due September 15, 2023.
- 3The offering also includes $500 million in 5.000% Notes due September 15, 2043.
- 4The notes were registered under the Securities Act of 1933 via a Form S-3 registration statement filed previously.
- 5The Underwriting Agreement includes standard provisions such as representations, warranties, covenants, and closing conditions.
- 6The expected closing date for the note sale was September 11, 2013.
- 7The filing acknowledges potential past and future business dealings between Lowe's and affiliates of the underwriters.