Summary
This 8-K filing from Wal-Mart Stores, Inc. on October 23, 2001, reports on the completion of a significant debt offering. On October 18, 2001, the company successfully sold $500 million in 3.25% Notes due in 2003 to Morgan Stanley & Co. Incorporated. This transaction was executed under agreements that date back to July 2001, involving various finance subsidiaries and an indenture with Bank One Trust Company, NA as trustee. For investors, this filing indicates that Wal-Mart is actively managing its capital structure and utilizing debt financing. The issuance of these notes at a 3.25% interest rate suggests a favorable borrowing cost for the company at the time, potentially to fund ongoing operations, expansion, or other strategic initiatives. Investors should note the details of the agreements and the involvement of specialized financial entities in facilitating this debt issuance.
Key Highlights
- 1Wal-Mart completed the sale of $500 million aggregate principal amount of 3.25% Notes due 2003.
- 2The sale occurred on October 18, 2001.
- 3The notes were sold to Morgan Stanley & Co. Incorporated.
- 4The transaction involved Wal-Mart's finance subsidiaries, which are Cayman Islands exempted companies.
- 5The issuance is governed by an Indenture dated July 5, 2001, with Bank One Trust Company, NA as Trustee.
- 6The notes were delivered in the form of two global notes.