Summary
This Form 8-K filing by Wal-Mart Stores, Inc. on December 18, 2006, details the company's agreement to issue and sell £1,000,000,000 (approximately $1.955 billion based on the specified exchange rate) in aggregate principal amount of 4.875% senior unsecured notes due 2039. The issuance is being facilitated through a Pricing Agreement with several underwriters, including Goldman Sachs International and Citigroup Global Markets Limited, and is expected to close on December 19, 2006. The net proceeds from this debt offering will be approximately £974,130,000. The notes are listed on the Irish Stock Exchange and are being offered both in the United States under a shelf registration statement and outside the United States pursuant to Regulation S. This transaction represents a strategic move by Walmart to raise capital, likely for ongoing operations, expansion, or other corporate initiatives, through the issuance of long-term debt.
Key Highlights
- 1Walmart Inc. is issuing £1,000,000,000 (approximately $1.955 billion) of 4.875% Notes Due 2039.
- 2The notes are senior, unsecured debt securities.
- 3The sale is conducted through a Pricing Agreement with a syndicate of underwriters, including major financial institutions.
- 4The expected closing date for the note sale is December 19, 2006.
- 5Net proceeds to the company are expected to be £974,130,000.
- 6The notes are admitted for trading on the Irish Stock Exchange.
- 7The offering is structured to comply with both U.S. (Regulation S and a shelf registration) and international markets.