By Sheri Kasprzak
New York, April 11 - Wal-Mart Stores Inc. sold $5 billion of notes (Aa2/AA/AA), according to a term sheet filed Monday with the Securities and Exchange Commission.
The sale includes $1 billion of three-year notes, $1 billion of five-year notes, $1 billion of 10-year notes and $2 billion of 30-year notes.
The three-year notes priced with a 1.625% coupon at 99.73 to yield 1.718%, or Treasuries plus 40 basis points.
The five-year notes priced with a 2.8% coupon at 99.631 to yield 2.88%, or Treasuries plus 57 bps.
The 10-year notes have a 4.25% coupon priced at 99.349 to yield 4.331% with a spread of Treasuries plus 75 bps.
The 30-year notes have a 5.625% coupon priced at 98.084 to yield 5.76%, or Treasuries plus 110 bps.
Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC; Merrill Lynch, RBS Securities Inc. and Wells Fargo Securities LLC were the joint bookrunners for the sale.
Proceeds will be used for general corporate purposes.
| Issuer: | Wal-Mart Stores Inc.
|
| Issue: | Notes
|
| Amount: | $5 billion
|
| Distribution: | SEC registered
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, RBS Securities Inc., Wells Fargo Securities LLC
|
| Pricing date: | April 11
|
| Settlement date: | April 18
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 15, 2014
|
| Coupon: | 1.625%
|
| Price: | 99.73
|
| Yield: | 1.718%
|
| Spread: | Treasuries plus 40 bps
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 15, 2016
|
| Coupon: | 2.8%
|
| Price: | 99.631
|
| Yield: | 2.88%
|
| Spread: | Treasuries plus 57 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 15, 2021
|
| Coupon: | 4.25%
|
| Price: | 99.349
|
| Yield: | 4.331%
|
| Spread: | Treasuries plus 75 bps
|
|
|
| 30-year notes
|
| Amount: | $2 billion
|
| Maturity: | April 15, 2041
|
| Coupon: | 5.625%
|
| Price: | 98.084
|
| Yield: | 5.76%
|
| Spread: | Treasuries plus 110 bps
|
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