Home Depot Raises $2 Billion in Bonds to Fund Share Repurchases
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Home Depot Inc., the largest U.S. home-improvement retailer, sold $2 billion of bonds in a two-part offering to help fund share repurchases.
The company, which boosted its dividend and announced a $17 billion stock buyback on Feb. 26, issued $1 billion of 2.7 percent securities due 2023 that yield 85 basis points more than similar-maturity Treasuries and an equal amount of 4.2 percent, 30-year debt with a spread of 110 basis points, according to data compiled by Bloomberg. Proceeds will be used for general corporate purposes including share repurchases, Atlanta-based Home Depot said today in a regulatory filing.