Summary
This Form 8-K filing by Wal-Mart Stores, Inc. (WMT) on May 25, 2006, announces the company's agreement to sell ¥50,000,000,000 (approximately $430 million at the time, based on the exchange rate of roughly 116 JPY/USD) aggregate principal amount of its 1.78% Notes Due 2011. The transaction is being facilitated by underwriters Goldman Sachs International and Lehman Brothers International (Europe), with the sale and purchase expected to be consummated on May 26, 2006. The net proceeds to Walmart from this offering, after underwriting discounts but before transaction expenses, are expected to be ¥49,825,000,000. These senior, unsecured debt securities are being issued under the company's existing Indenture dated July 19, 2005, and have been admitted for trading on the Irish Stock Exchange. This offering is part of Walmart's strategy to access capital markets for its ongoing business needs, with the notes being sold under a previously effective Form S-3 registration statement.
Key Highlights
- 1Walmart is issuing ¥50 billion (JPY) in 1.78% Notes due 2011.
- 2The offering is being underwritten by Goldman Sachs International and Lehman Brothers International (Europe).
- 3The sale and purchase of the notes are scheduled for May 26, 2006.
- 4Net proceeds from the sale are expected to be ¥49,825,000,000.
- 5The notes are senior, unsecured debt securities.
- 6The notes are listed on the Irish Stock Exchange.
- 7The offering is conducted under Walmart's existing Form S-3 shelf registration statement.