NORTH WILKESBORO (dpa-AFX) - Lowe's Companies, Inc. (LOW) announced it has agreed to sell $500 million of 1.625% Notes due 2017, $750 million of 3.12% Notes due 2022 and $750 million of 4.65% Notes due 2042.
The company stated that estimated net proceeds from this offering will be about $1.982 billion, after deducting offering expenses and underwriters' discounts.
Lowe's intends to use the net proceeds from the notes offering for general corporate purposes, which may include repurchases of shares of our common stock, capital expenditures, acquisitions and working capital needs. Closing is expected to occur on April 23, 2012.
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