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Home Depot offers two-part notes, with add-on to 3.9% notes due 2047
By Devika Patel
Knoxville, Tenn., June 3 – Home Depot Inc. intends to offer notes in two tranches, including an add-on to its 3.9% senior notes due June 15, 2047, according to a 424B5 filing with the Securities and Exchange Commission.
The company sold $750 million of the 3.9% notes in May 2017. The notes were priced at 99.316 to yield 3.938%, with a spread of 100 basis points over Treasuries.
The new fixed-rate notes are due in 2029.
The new notes have a make-whole call and then a par call.
The 3.9% notes have a make-whole call at Treasuries plus 15 bps before Dec. 15, 2046 and then a par call.
Barclays, BofA Merrill Lynch, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.
Proceeds will be used to repay the company’s 2% notes due June 15, 2019 and for general corporate purposes.
Home Depot is an Atlanta-based home improvement retailer.
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