Summary
This 8-K filing from Wal-Mart Stores, Inc. (Walmart) on July 24, 2009, announces the company's agreement to issue and sell $500 million in aggregate principal amount of 6.200% Notes due 2038. The offering is being conducted through a pricing agreement with several underwriters, including Banc of America Securities LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., and UBS Securities LLC. These new notes will be fungible with and added to the company's existing 6.200% Notes Due 2038, bringing the total outstanding principal amount of this series to $2 billion. The net proceeds expected from this issuance, after underwriting discounts but before transaction expenses, are approximately $525.6 million, plus pre-issuance accrued interest. These notes represent senior unsecured debt obligations of Walmart.
Key Highlights
- 1Walmart is issuing an additional $500 million of its 6.200% Notes Due 2038.
- 2The offering is expected to close on July 27, 2009.
- 3The net proceeds to Walmart are estimated to be approximately $525.6 million before transaction expenses.
- 4These new notes will be fungible with and increase the total outstanding principal of the 2038 Series to $2 billion.
- 5The Notes are senior unsecured debt obligations of the company.
- 6The issuance is being conducted under Walmart's existing Form S-3 registration statement.
- 7The filing includes key agreements such as the Pricing Agreement and Underwriting Agreement as exhibits.