Summary
This Form 8-K filing by Wal-Mart Stores, Inc. on September 18, 2009, announces the company's agreement to sell €1,000,000,000 aggregate principal amount of its 4.875% Notes Due 2029 to a group of underwriters. The transaction, expected to close on September 14, 2009, involves the issuance of senior unsecured debt securities denominated in Euros, which will rank equally with other unsecured debt obligations of the company. The net proceeds, after underwriting discounts but before expenses, are estimated at €984,490,000 (approximately US$1,435,977,114 based on the specified exchange rate). These notes have been admitted to the Official List of the Irish Stock Exchange and are available for trading on its regulated market. The filing details the pricing and underwriting agreements, the terms of the notes as established by an indenture, and the legal opinions supporting the offering. A significant portion of these notes were offered and sold outside the United States in reliance on Regulation S under the Securities Act, with any potential resales in the U.S. being made under the company's existing Form S-3 registration statement.
Key Highlights
- 1Walmart (WMT) issued €1 billion (approximately $1.45 billion) in 4.875% Senior Unsecured Notes due 2029.
- 2The offering closed on September 14, 2009.
- 3Net proceeds from the issuance are expected to be approximately €984.5 million (around $1.44 billion) after underwriting discounts.
- 4The notes are denominated in Euros and will be senior unsecured debt, ranking equally with other unsecured obligations.
- 5The notes have been admitted to trading on the Irish Stock Exchange.
- 6A substantial portion of the offering was conducted outside the United States under Regulation S.
- 7The filing includes key documentation such as the Pricing Agreement, Underwriting Agreement, and legal opinions.