Home Depot’s $4 Billion Notes Offering

Davis Polk advised the representatives of the several underwriters in the offering.

The Home Depot, Inc. executed its offering of $500 million aggregate principal amount of 2.700% notes due 2025, $750 million aggregate principal amount of 2.875% notes due 2027, $1.25 billion aggregate principal amount of 3.250% notes due 2032 and $1.5 billion aggregate principal amount of 3.625% notes due 2052.

The Joint Book-Running Managers included Barclays, BofA Securities, J.P. Morgan, and Morgan Stanley. The Co-Managers included BNY Mellon Capital Markets, LLC, Citigroup, Credit Suisse, Deutsche Bank Securities, Fifth Third Securities, Goldman Sachs & Co. LLC, Mizuho Securities         RBC Capital Markets, Siebert Williams Shank, TD Securities, Truist Securities, US Bancorp, Wells Fargo Securities, and Ramirez & Co., Inc.

The Home Depot is the world’s largest home improvement retailer, with 2,317 stores located throughout the United States (including the Commonwealth of Puerto Rico and the territories of the U.S. Virgin Islands and Guam), Canada and Mexico.

The Davis Polk corporate team included partner Pedro J. Bermeo and associate Stephen H. Karp. Partner Mario J. Verdolini and associate Dov Sussman provided tax advice. Counsel Loyti Cheng provided environmental advice.

Involved fees earner: Pedro Bermeo – Davis Polk & Wardwell; Loyti Cheng – Davis Polk & Wardwell; Stephen Karp – Davis Polk & Wardwell; Dov Sussman – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities; Barclays Bank; BNY Mellon Capital Markets; Citigroup Global Markets Ltd; Credit Suisse; Deutsche Bank Securities; Fifth Third Securities, Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Mizuho Securities; Morgan Stanley; Ramirez & Co.; RBC Capital Markets; Siebert Williams Shank & Co. LLC; TD Securities; Truist Securities Inc. ; US Bancorp; Wells Fargo Securities;