New Issue: Wal-Mart sells $500 million more 3.3% notes due 2024 at 68 bps spread

By Aleesia Forni

Virginia Beach, Oct. 7 – Wal-Mart Stores Inc. priced a $500 million add-on to its existing 3.3% notes (Aa2/AA/AA) due April 22, 2024 at Treasuries plus 68 basis points, according to an informed source and an FWP filed with the Securities and Exchange Commission.

Pricing was at 102.069 to yield 3.042%.

The bookrunners were Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and RBS Securities Inc.

The original $1 billion of 3.3% notes (Aa2/AA/AA) due 2024 sold at 73 basis points over Treasuries on April 15.

The discount retailer is based in Bentonville, Ark.

Issuer:	Wal-Mart Stores Inc.
Amount:	$500 million
Description:	Senior notes
Maturity:	April 22, 2024
Bookrunners:	Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, RBS Securities Inc.
Coupon:	3.3%
Price:	102.069
Yield:	3.042%
Spread:	Treasuries plus 68 bps
Make-whole call:	Treasuries plus 12.5 bps prior to Jan. 22, 2024, then callable at par
Trade date:	Oct. 7
Settlement date:	Oct. 22
Ratings:	Moody’s: Aa2
	Standard & Poor's: AA
	Fitch: AA
Price talk:	Treasuries plus 70 bps area
Total issue size:	$1.5 billion, including $1 billion sold at 73 bps over Treasuries on April 15

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