8-KOther EventsExhibits & Filings

Walmart Inc. 8-K Report, Corporate Update (Dec 20, 2006)

Filed December 20, 2006For Securities:WMT

Summary

This 8-K filing from Wal-Mart Stores, Inc. on December 20, 2006, announces the company's intention to issue and sell $1.5 billion in Floating Rate Notes due 2008. The issuance, conducted through a Pricing Agreement with Lehman Brothers Inc., is expected to close on December 21, 2006. The net proceeds to the company are estimated to be approximately $1,499,700,000 after accounting for sale expenses. These notes represent a new series of senior, unsecured, and unsubordinated debt, ranking equally with other similar debt obligations of Wal-Mart. The issuance is part of a broader shelf registration on Form S-3, allowing for the continuous offering of debt securities. Investors should note that this is a debt issuance, and the terms are detailed in accompanying prospectus supplements and agreements filed as exhibits to this report.

Key Highlights

  • 1Wal-Mart Inc. is issuing $1.5 billion in Floating Rate Notes due 2008.
  • 2The transaction is structured as a sale to Lehman Brothers Inc. as the underwriter.
  • 3The expected closing date for the sale is December 21, 2006.
  • 4Net proceeds are estimated to be approximately $1,499,700,000.
  • 5The Notes are senior, unsecured, and unsubordinated debt securities.
  • 6This issuance falls under Wal-Mart's existing Form S-3 shelf registration statement for debt securities.
  • 7The details of the Notes are further outlined in a Prospectus Supplement filed on December 18, 2006.

Frequently Asked Questions

This 8-K filing is to report a material event, specifically Wal-Mart's agreement to issue and sell $1.5 billion of its Floating Rate Notes Due 2008 to an underwriter.

Wal-Mart is raising $1.5 billion in aggregate principal amount through the sale of these Floating Rate Notes.

The notes are senior, unsecured, and unsubordinated debt securities. They rank equally with other senior, unsecured, and unsubordinated debt obligations of Wal-Mart.

While the 8-K filing does not specify the exact use of proceeds, it indicates that the net proceeds, estimated at approximately $1,499,700,000 after expenses, will be available to the company. Typically, such funds are used for general corporate purposes, which may include investments, debt repayment, or share repurchases.