Lowe's Prices $1.75 Billion Notes Offering

MOORESVILLE, N.C., Sept. 9, 2015 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) announced today it has agreed to sell $250 million of Floating Rate Notes due 2018, $750 million of 3.375% Notes due 2025 and $750 million of 4.375% Notes due 2045. Estimated net proceeds from this offering will be approximately $1.7 billion, after deducting offering expenses and underwriters' discounts. Lowe's intends to use the net proceeds from the sale of the Notes for the repayment of $500 million aggregate principal amount at maturity of its 5.000% Notes due October 15, 2015 and for other general corporate purposes. Closing is expected to occur on September 16, 2015.

J.P. Morgan, BofA Merrill Lynch and SunTrust Robinson Humphrey are acting as joint book-running managers for the notes offering. This offering was made under an effective registration statement on file with the Securities and Exchange Commission. This press release is not an offer to sell or a solicitation of an offer to buy these securities. Any offers to sell, or solicitations to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission. A copy of the prospectus and related prospectus supplement for this offering may be obtained from J.P. Morgan,  Attention: Investment Grade Syndicate Desk, 383 Madison Ave., New York, NY 10179, Telephone: (212) 834-4533; BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, 11th Floor, New York, NY 10038, Telephone: (800) 294-1322, Email:  [email protected]; or SunTrust Robinson Humphrey,  Attention: Prospectus Department, 303 Peachtree Street, Atlanta, GA 30308, Telephone: (800) 685-4786.

Disclosure Regarding Forward-Looking Statements

Included herein are forward-looking statements, including statements with respect to an anticipated financing. There are many factors that affect management's views about future events and trends of the business and operations of the company, including changes to the economy and the market for the offering, all as more thoroughly described in the prospectus and related prospectus supplement and the company's filings with the Securities and Exchange Commission. The company does not undertake any obligation to update forward-looking information included in this release or any of its public filings.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customers a week in the United States, Canada and Mexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2014 sales of $56.2 billion, Lowe's has more than 1,845 home improvement and hardware stores and 265,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe's supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

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SOURCE Lowe's Companies, Inc.