The Home Depot Announces $3.25 Billion Senior Note Issuance

Home Depot Press Release:

The Home Depot Announces $3.25 Billion Senior Note Issuance

ATLANTA, Sept. 3, 2013 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, today announced the pricing of $1.15 billion of 2.25% senior notes due 2018, $1.1 billion of 3.75% senior notes due 2024 and $1.0 billion of 4.875% senior notes due 2044.  The Company intends to use the net proceeds from the offering to refinance $1.25 billion of 5.25% senior notes that mature in December 2013 and to repurchase an incremental $2 billion of outstanding shares during the remainder of 2013. The incremental share repurchases are in addition to the Company's previously announced intention to repurchase approximately $6.5 billion of outstanding shares throughout 2013, of which $4.3 billionhad been repurchased at the end of the second quarter of 2013. These repurchases are being made pursuant to the Company's $17 billion share repurchase authorization announced in February 2013. (Logo: http://photos.prnewswire.com/prnh/20030502/HOMEDEPOTLOGO ) The Company estimates that the incremental $2 billion of share repurchases in fiscal 2013 will positively impact fiscal 2013 diluted earnings per share by $0.01. The Home Depot is the world's largest home improvement specialty retailer, with 2,259 retail stores in all 50 states, theDistrict of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, and Mexico. In fiscal 2012, The Home Depot had sales of $74.8 billion and earnings of $4.5 billion. The Company employs more than 300,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.