(Reuters) - Home Depot said it plans to use proceeds from a sale of its
supply division, cash on hand and $12 billion of additional
debt to pay for the share repurchases. The company said it has
agreed to sell its supply division to three private equity
firms for about $10.3 billion. For details, see
[ID:nN19471168].
The moves will result in a more highly leveraged company at
a time when operating trends have been weak, Fitch said in a
statement. Offsetting that, the company has a strong market
position as the largest home improvement retailer and generates
strong cash flow, Fitch said.
Read more at Reuters.com Bonds News
supply division, cash on hand and $12 billion of additional
debt to pay for the share repurchases. The company said it has
agreed to sell its supply division to three private equity
firms for about $10.3 billion. For details, see
[ID:nN19471168].
The moves will result in a more highly leveraged company at
a time when operating trends have been weak, Fitch said in a
statement. Offsetting that, the company has a strong market
position as the largest home improvement retailer and generates
strong cash flow, Fitch said.
Read more at Reuters.com Bonds News
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