Home Depot Sells $2 Billion of Debt to Build Cash, Buy Stock
This article is for subscribers only.
Home Depot Inc., the largest U.S. home-improvement retailer, returned to the corporate bond market for the second time in less than seven months to rebuild its cash stockpile and finance share buybacks.
The company sold $2 billion of 10- and 30-year bonds, according to data compiled by Bloomberg. Home Depot will use proceeds to replace $1 billion of 5.2 percent notes issued in 2006 that matured March 1 and to buy its own stock, according to a Securities and Exchange Commission filing.