Walmart looks to raise US$6 billion from U.S., Canadian bond sales

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeNewsEconomyRetail & MarketingWalmart looks to raise US$6 billion from U.S., Canadian bond salesSelling Canadian bonds offers currency and investor diversification for U.S. borrowersAuthor of the article:Brian Smith and Chunzi XuThe retailer has boosted investments over the past few years as part of a plan to add new stores, expand its e-commerce capabilities and automate some tasks. Photo by Joe Raedle/Getty ImagesWalmart Inc. is poised to raise at least US$6 billion from the sale of United States and Canadian dollar bonds as the world’s largest retailer seeks to diversify its funding sources amid a spending spree.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe company has kicked off a minimum C$4.25 billion offering for its debut sale of Canadian notes, according to a person familiar with the matter. It has also launched a US$3 billion issuance of U.S. dollar bonds, said a separate person, who also asked not to be identified as they’re not authorized to speak publicly.This advertisement has not loaded yet, but your article continues below.Both four-part sales are set to price on Monday. The company was looking to raise at least US$5 billion from the deals, people previously said.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againThe retailer has boosted investments over the past few years as part of a plan to add new stores, expand its e-commerce capabilities and automate some tasks, with spending seen at a record US$29 billion next year, according to analyst estimates compiled by Bloomberg. Walmart also has about US$3.3 billion of bonds maturing next year.The U.S. dollar sale attracted more than US$14 billion of investor demand at its peak, the people said. Maturities range from three to 10 years, with the latter set to yield just 0.45 percentage point above Treasuries. Walmart, which typically sells bonds just once a year, last tapped the U.S. market in April. It raised US$4.25 billion then.With the debut Canadian-dollar debt offering, the US$940 billion company is following in the footsteps of U.S. technology giants Alphabet Inc. and Amazon.com, which tapped the market this year to fund their artificial intelligence infrastructure investments.This advertisement has not loaded yet, but your article continues below.Selling Canadian bonds offers currency and investor diversification for U.S. borrowers, while local investors have snapped up debt sold by foreign firms to broaden their exposure across sectors and issuers.The company is set to broaden its costumer reach and capture more household spending as inflation and higher gas prices squeeze budgets, Bloomberg Intelligence analysts Poonam Goya and Sydney Goodman said last week in a note to clients.Walmart, Bank of America Corp. and BNP Paribas SA, among the banks working on at least one of the two bond sales, either declined to comment or didn’t respond to a comment request.—With assistance from Caleb Mutua.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.