By Andrea Heisinger
Omaha, Jan. 23 - Wal-Mart Stores Inc. reopened a two-tranche issue of notes (Aa2/AA) to add $1.5 billion Wednesday, market sources said.
The company upsized the reopened amount from $1 billion.
The reopened amount included $750 million of 5.8% 10-year notes priced at Treasuries plus 167 basis points, tighter than price talk that was in the area of 170 bps over Treasuries, a source said. This brings the total issue for the tranche to $1.25 billion.
The reopened amount also included $750 million of 6.5% 30-year notes priced at Treasuries plus 217 bps, also tighter than talk that was in the area of 220 bps over Treasuries. The total issue for the tranche is $3 billion.
The total issue is now $4.25 billion, including $2.75 billion priced on Aug. 17, 2007.
The notes are non-callable.
Bookrunners were Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Lehman Brothers Inc. and UBS Investment Bank.
The discount retail store chain is based in Bentonville, Ark.
| Issuer: | Wal-Mart Stores Inc.
|
| Issue: | Notes
|
| Amount: | $1.5 billion reopened, upsized from $1 billion
|
| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Lehman Brothers Inc., UBS Investment Bank
|
| Trade date: | Jan. 23
|
| Settlement date: | Jan. 30
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Total issuance: | $4.25 billion, including $2.75 billion priced Aug. 17, 2007
|
|
|
| 10-year tranche
|
| Amount: | $750 million, upsized from $500 million
|
| Maturity: | Feb. 15, 2018
|
| Coupon: | 5.8%
|
| Spread: | Treasuries plus 167 bps
|
| Call: | Non-callable
|
| Price talk: | 170 bps area
|
| Total issuance: | $1.25 billion
|
|
|
| 30-year tranche
|
| Amount: | $750 million, upsized from $500 million
|
| Maturity: | Aug. 15, 2037
|
| Coupon: | 6.5%
|
| Spread: | Treasuries plus 217 bps
|
| Call: | Non-callable
|
| Price talk: | 220 bps area
|
| Total issuance: | $3 billion
|
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