Summary
Walmart Inc. (WMT) filed an 8-K on March 15, 2004, to report the consummation of a significant debt offering. The company successfully sold $750,000,000 aggregate principal amount of its 4.125% Notes due 2011. This offering, executed under a Pricing Agreement with major underwriters including Goldman, Sachs & Co., Lehman Brothers Inc., and Credit Suisse First Boston LLC, generated substantial proceeds for the company. The net proceeds received by Walmart from this issuance amounted to $762,017,812.50, including accrued interest. These newly issued notes are part of the existing 2011 Series, which now totals $2,000,000,000 in aggregate principal amount when combined with a prior issuance in February 2004. This transaction indicates Walmart's strategy to access capital markets for funding, likely to support ongoing operations, expansion, or other strategic initiatives.
Key Highlights
- 1Walmart Inc. successfully issued $750,000,000 in aggregate principal amount of 4.125% Notes due 2011.
- 2The debt offering was consummated on March 15, 2004, following a Pricing Agreement dated March 8, 2004.
- 3The company received net proceeds of $762,017,812.50 from the sale of these notes.
- 4The Notes were underwritten by a syndicate including Goldman, Sachs & Co., Lehman Brothers Inc., and Credit Suisse First Boston LLC.
- 5This issuance brings the total aggregate principal amount of the 4.125% Notes Due 2011 to $2,000,000,000.
- 6The debt issuance is part of Walmart's ongoing capital management strategy to fund its business operations and growth.