Walgreen (WAG) Prices $1 Billion, 10-Year Bond Offering

January 8, 2009 3:55 PM EST

Walgreen Co. (NYSE: WAG) has priced an offering of $1 billion aggregate principal amount of 5.25% notes due 2019. Net proceeds from the offering will be used by Walgreen Co. for repayment of short-term debt incurred under its commercial paper program and general corporate purposes. The offering is expected to close on Jan. 13, 2009, subject to customary closing conditions.

Banc of America Securities LLC, Goldman, Sachs & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated are acting as joint book-running managers of the offering, and Wells Fargo Securities, LLC and Loop Capital Markets, LLC are acting as co-managers of the offering.

Walgreen Company (Walgreens) is principally a retail drugstore chain that sells prescription and non-prescription drugs, and general merchandise. [SM]


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