Summary
This 8-K filing from Wal-Mart Stores, Inc. on September 23, 2002, reports on a significant debt issuance. The company completed the sale of an additional $500,000,000 aggregate principal amount of its 4.375% Notes Due 2007. This issuance is a follow-on to an initial offering of $1,000,000,000 of the same series of notes, bringing the total outstanding principal for this series to $1,500,000,000. The purpose of this filing is to provide transparency regarding this financing activity. The notes are issued under an indenture dated July 5, 2001, with Bank One Trust Company, NA, serving as Trustee. The additional capital raised through this note issuance could be utilized for various corporate purposes, such as funding operations, capital expenditures, or potential acquisitions, contributing to Wal-Mart's continued growth and financial flexibility.
Key Highlights
- 1Wal-Mart Inc. successfully issued an additional $500 million in 4.375% Notes Due 2007 on September 20, 2002.
- 2This issuance increases the total aggregate principal amount of the 4.375% Notes Due 2007 outstanding to $1,500,000,000 ($1,000,000,000 initially issued plus $500,000,000 in this offering).
- 3The notes were sold to designated underwriters, including Goldman Sachs & Co., J.P. Morgan Securities Inc., and Lehman Brothers Inc.
- 4The issuance is governed by a Pricing Agreement dated September 17, 2002, and an underlying Underwriting Agreement from July 26, 2001.
- 5The debt is secured under an Indenture dated July 5, 2001, with Bank One Trust Company, NA, acting as Trustee.
- 6Finance subsidiaries (Wal-Mart Cayman (Euro) Finance Co., Wal-Mart Cayman (Canadian) Finance Co., and Wal-Mart Cayman (Sterling) Finance Co.) are acknowledged in the transaction.