LOWE'S PRICES $3.0 BILLION NOTES OFFERING

Lowe's (NYSE: LOW) announced on March 28, 2023, its decision to sell $3 billion in Notes to finance general corporate purposes.

Rhea-AI Summary

Lowe's (NYSE: LOW) announced on March 28, 2023, its decision to sell $3 billion in Notes to finance general corporate purposes. The offerings include:

• $1.0 billion of 4.800% Notes due 2026
• $1.0 billion of 5.150% Notes due 2033
• $500 million of 5.750% Notes due 2053
• $500 million of 5.850% Notes due 2063

The offering is led by BofA Securities, Citigroup, J.P. Morgan, and Mizuho Securities, with expected closing on March 30, 2023, pending customary conditions.

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MOORESVILLE, N.C., March 28, 2023 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) announced today it has agreed to sell $1.0 billion of 4.800% Notes due 2026, $1.0 billion of 5.150% Notes due 2033, $500 million of 5.750% Notes due 2053 and $500 million of 5.850% Notes due 2063 (collectively, the "Notes"). Lowe's plans to use the net proceeds from the sale of the Notes for general corporate purposes. Closing is expected to occur on March 30, 2023, subject to satisfaction of customary closing conditions.

BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC are acting as joint book-running managers for the offering.

This offering was made under an effective registration statement on file with the Securities and Exchange Commission. This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase any securities. Any offers to sell, or solicitations to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission. A copy of the prospectus and related prospectus supplement for this offering may be obtained from BofA Securities, Inc., 201 North Tryon Street, NC1-022-02-25, Charlotte, NC 28255-0001, Attention: Prospectus Department, Telephone: 1-800-294-1322, Email: dg.prospectus_requests@bofa.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-800-831-9146, Email: prospectus@citi.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204; or Mizuho Securities USA LLC, 1271 Avenue of the Americas, New York, New York 10020, Attention: Debt Capital Markets, Telephone: 1-866-271-7403.

Disclosure Regarding Forward-Looking Statements

Included herein are forward-looking statements, including statements with respect to an anticipated financing. There are many factors that affect management's views about future events and trends of the business and operations of the company, all as more thoroughly described in the company's filings with the Securities and Exchange Commission. The company does not undertake any obligation to update forward-looking information included in this release or any of its public filings.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 17 million customer transactions a week in the United States. With total fiscal year 2022 sales of over $97 billion, approximately $92 billion of sales were generated in the United States, where Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

LOW-IR

Contacts:	Shareholder / Analyst Inquiries:	Media Inquiries:
	Kate Pearlman	Steve Salazar
	704-775-3856	steve.j.salazar@lowes.com
	kate.pearlman@lowes.com

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SOURCE Lowe's Companies, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Lowe's recent bond offering date?

Lowe's announced its bond offering on March 28, 2023.

How much did Lowe's raise in its recent bond offering?

Lowe's raised $3 billion through its recent bond offering.

What are the terms of Lowe's bond offerings?

Lowe's issued $1.0 billion of 4.800% Notes due 2026, $1.0 billion of 5.150% Notes due 2033, $500 million of 5.750% Notes due 2053, and $500 million of 5.850% Notes due 2063.

Who are the underwriters for Lowe's bond offering?

BofA Securities, Citigroup, J.P. Morgan, and Mizuho Securities are the underwriters.

When is the expected closing date for Lowe's bond offering?

The expected closing date for Lowe's bond offering is March 30, 2023.