BB&T Capital Markets Serves as Co-Manager for Lowe’s $3 Billion Two Tranche Offering of Senior Notes due 2027 and 2047

Transaction Summary

On April 19, 2017, BB&T Capital Markets served as a co-manager for a $3 billion two tranche offering of senior notes due 2027 and 2047 by Lowe’s Companies.

Proceeds from the offering are being used for general corporate purposes.

About the Companies

Lowe’s operates as a home improvement company in the United States, Canada, and Mexico. The company offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as building materials, tools, appliances, fixtures, plumbing and electrical, flooring, kitchens, outdoor power equipment, and more. Lowe’s also offers installation services, extended protection plans, and warranty repair services.  The company operates around 2,300 home improvement and hardware stores. Lowe’s sells its products through online sites comprising Lowes.com and Lowesforpros.com; and through mobile applications. Lowe’s was founded in 1946 and is headquartered in Mooresville, North Carolina.

About BB&T Capital Markets

BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.

  • Lowe’s Companies, Inc. (NYSE: LOW)

    On April 19, 2017, BB&T Capital Markets served as a co-manager for a $3 billion two tranche offering of senior notes due 2027 and 2047 by Lowe’s Companies.

    Proceeds from the offering are being used for general corporate purposes.

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    On August 2, 2016, BB&T Capital Markets served as a co-manager for a $350 million offering of 2.35% senior notes by Mattel, Inc.
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    On May 31, 2013, Auto Meter Products, Inc. ("Auto Meter"), a portfolio company of St. Louis-based Harbour Group, was acquired by Promus Equity Partners, LLC, a Chicago-based private equity firm. Terms of the agreement were not disclosed. BB&T Capital Markets served as the exclusive financial advisor to Auto Meter and Harbour Group in the transaction.

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  • Ingles Markets

    On May 29, 2013, BB&T Capital Markets served as a lead manager on a $700 million offering of 5.75% senior notes by Ingles Markets. Proceeds from the ten-year notes offering are being used to repurchase Ingles’ existing 8.875% notes due 2017 and to repay amounts outstanding on its line of credit. This offering represents the second such lead mandate to which BB&T Capital Markets has been invited by Ingles.

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