Home Depot Eyes $12.5 Billion Debt Package to Fund SRS Merger
- Retailer plans to maintain its investment-grade rating: CFO
- M&A-related high-grade bond deals fueling record sales in 2024
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Home Depot Inc. told investors it expects to take on $12.5 billion of debt to help fund its planned purchase of building-products distributor SRS Distribution Inc.
The world’s largest hardware store chain plans to fund the acquisition with cash on hand, as well as new commercial paper and unsecured notes, Chief Financial Officer Richard McPhail said during a conference call Thursday. The deal is valued at about $18.25 billion.