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Walmart latest to tap bond market with $5 bln offerings

09/07/2022 | 06:58am EST

Sept 7 (Reuters) - Walmart Inc will raise $5 billion in bond offerings, joining a host of big retailers and restaurant chains to tap the debt market ahead of the U.S. Federal Reserve's next potential rate move.

A company filing showed on Wednesday that its bonds will be due between 2025 and 2052 and have a coupon rate of between 3.9% and 4.5%.

The Federal Open Market Committee Meeting is scheduled for September 20-21, where the Fed is expected to decide on whether to go for another 75bp rate increase.

IFR reported on Tuesday that at least 19 investment-grade bond deals were expected to price, as issuers and investors get ready for what is expected to be a busy post-Labor Day session.

Target Corp is offering $1 billion in notes due 2032, while McDonald's Corp is offering about $1.5 billion in two-part bonds due 2052 and 2032, the companies disclosed in separate filings on Tuesday.

Separately, Lowe's Cos Inc also announced the pricing of a four-part notes offering at $4.75 billion and Dollar General priced four-part senior notes worth $2.3 billion. (Reporting by Uday Sampath and Mehr Bedi in Bengaluru; Editing by Sherry Jacob-Phillips and Anil D'Silva)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.01% 0.67086 Delayed Quote.-7.05%
BRITISH POUND / US DOLLAR (GBP/USD) 0.31% 1.209 Delayed Quote.-10.61%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.12% 0.74457 Delayed Quote.-5.53%
EURO / US DOLLAR (EUR/USD) 0.99% 1.04704 Delayed Quote.-8.57%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.03% 0.012246 Delayed Quote.-8.84%
LOWE'S COMPANIES, INC. -0.02% 210.97 Delayed Quote.-18.38%
MCDONALD'S CORPORATION 0.63% 275 Delayed Quote.2.59%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.29% 0.62331 Delayed Quote.-8.65%
TARGET CORPORATION -0.02% 163.38 Delayed Quote.-29.41%
WALMART INC. 0.43% 153.07 Delayed Quote.5.79%
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