8-KOther Events

Walmart Inc. 8-K Report (Apr 29, 2003)

Filed April 29, 2003For Securities:WMT

Summary

This Form 8-K filing from Wal-Mart Stores, Inc., dated April 29, 2003, primarily reports on the completion of a significant debt offering. The company successfully issued and sold $1.5 billion in aggregate principal amount of 4.55% Notes due 2013. This action indicates Wal-Mart's continued strategy of utilizing debt financing to support its operations and growth initiatives, a common practice for large corporations. Investors should note that this offering represents the entirety of the 2013 Series notes currently outstanding. The low interest rate of 4.55% suggests favorable borrowing conditions for the company at the time. The filing details the pricing agreement with major underwriters like Lehman Brothers, Deutsche Bank Securities, and Goldman, Sachs & Co., underscoring the robust financial backing and market confidence in Wal-Mart.

Key Highlights

  • 1Wal-Mart completed a $1.5 billion offering of 4.55% Notes due 2013.
  • 2The offering occurred on April 29, 2003.
  • 3These notes are part of a newly created 2013 Series, and this issuance represents the total outstanding amount for this series.
  • 4The debt issuance was underwritten by a syndicate of prominent financial institutions, including Lehman Brothers, Deutsche Bank Securities, and Goldman, Sachs & Co.
  • 5The filing includes the Pricing Agreement, Underwriting Agreement, Series Terms Certificate, and the form of Global Note as exhibits.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the completion of Wal-Mart's underwritten offer and sale of $1.5 billion of its 4.55% Notes due 2013.

The 4.55% interest rate is a key term for investors and the company. A lower rate generally signifies that Wal-Mart was able to secure financing on favorable terms, suggesting strong creditworthiness and market confidence in its ability to repay the debt.

The lead underwriters for this debt offering were Lehman Brothers Inc., Deutsche Bank Securities Inc., and Goldman, Sachs & Co., acting as representatives for the full syndicate of underwriters.

This filing indicates the issuance of new debt. The $1.5 billion in notes are part of a newly created series (2013 Series), and this issuance constitutes the entirety of that series outstanding as of the filing date.