Summary
This 8-K filing from Wal-Mart Stores, Inc. (now Walmart Inc.) on October 17, 2014, details the company's issuance of additional senior unsecured debt. Specifically, Walmart entered into an agreement to sell $500 million in aggregate principal amount of its 3.300% Notes Due 2024 to underwriters. These notes are an "add-on" to an existing series of the same notes, originally issued in April 2014. The sale is expected to be completed on October 22, 2014, and the net proceeds to Walmart, after underwriting discounts but before other transaction expenses, are estimated to be approximately $508.1 million. This issuance increases the total outstanding principal amount of the 3.300% Notes Due 2024 to $1.5 billion.
Key Highlights
- 1Walmart issued an additional $500 million in 3.300% Notes Due 2024.
- 2The notes are senior unsecured debt, ranking equally with other senior unsecured obligations.
- 3This issuance is an "add-on" to a previously issued series of the same notes, increasing the total outstanding principal amount to $1.5 billion.
- 4The net proceeds from this issuance are expected to be approximately $508.1 million.
- 5The sale is scheduled to be consummated on October 22, 2014.
- 6The notes were offered at a price of 102.069% of the aggregate principal amount.
- 7The issuance was conducted under Walmart's existing Form S-3ASR registration statement.