Home Depot Issues $2 Billion of Debt to Buy Back Shares
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Home Depot Inc., which signaled three weeks ago that it’s optimistic about the U.S. housing recovery, borrowed $2 billion with a bond sale that may fund share repurchases.
The nation’s largest home-improvement retailer issued equal portions of five-year, 2 percent notes and 4.4 percent debentures due in 2045, according to data compiled by Bloomberg. Proceeds will be used for general corporate purposes including stock buybacks, Atlanta-based Home Depot said in a regulatory filing.