Green Bond Proceeds will Support Key Environmental Initiatives, Reinforcing Walmart’s Mission to Drive Collective Climate Action
Minority- and Women-Owned Firms Served as Active Bookrunners
Walmart Inc. (NYSE: WMT) today announced it has successfully priced the company's first green bond. Net proceeds from the $2 billion green bond offering will be used to fund existing and future projects that enable Walmart to achieve its sustainability goals.
Over the next few years, Walmart intends to allocate an amount equal to the net proceeds of the $2 billion offering toward a portfolio of Eligible Green Investments that meet certain eligibility criteria within the areas of renewable energy, high performance buildings, sustainable transport, zero waste and circular economy, water stewardship, and habitat restoration and conservation.
Walmart will issue a public report with information on allocation to and estimated impact of the Eligible Green Investments on an annual basis until an amount equal to the net proceeds of the green bond has been allocated. An outside consultant with recognized expertise in environmental, social and governance research and analysis has issued, and made publicly available, a second party opinion in respect of the alignment of eligibility criteria of the type described above with the Green Bond Principles, and the company’s external auditor EY will provide an assurance report on each allocation report.
The green bond is part of $7 billion of new senior unsecured notes that the company successfully priced across 5-, 7-, 10-, 20- and 30-year tranches.
Leading the green bond as active bookrunners were four nationally recognized minority- and women-owned firms including African-American and service-disabled veteran-owned AmeriVet Securities, Inc., women-owned C.L. King & Associates, Inc., Hispanic-owned Samuel A. Ramirez & Company, Inc. and African American- and women-owned Siebert Williams Shank & Co., LLC. BofA Securities, Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC also served as active bookrunners on the green bond. BofA Securities, Inc. was the Green Structuring Agent, while Citigroup Global Markets Inc. served as Diversity and Inclusion Coordinator.
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs more than 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity.
This press release is not a prospectus or an offer to sell securities. The offerings are being made by means of the prospectuses only. Walmart Inc. (“we,” the “Company” or “Walmart”) has filed a registration statement (including a preliminary prospectus) on Form S-3 with the Securities and Exchange Commission (the "SEC") for each of the offerings to which this press release relates. Before you invest, you should read the applicable preliminary prospectus in that registration statement and other documents we have filed with the SEC for more complete information about the Company and the offerings. You can obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
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Our most recent annual report on Form 10-K and subsequent quarterly report on Form 10-Q filed with the SEC discuss other risks and factors that could cause actual results to differ materially from those expressed or implied by any forward-looking statement in this press release. In addition, with respect to our ESG targets, goals and commitments outlined in this press release or elsewhere, such risks, uncertainties and factors include the challenges, assumptions and dependencies identified in our ESG issue briefs under the heading Challenges and other assumptions, risks, uncertainties and factors identified in our reporting. We urge you to consider all of the risks, uncertainties and factors identified above or discussed in such reports carefully in evaluating the forward-looking statements in this press release. Walmart cannot assure you that the results reflected in or implied by any forward-looking statement will be realized or, even if substantially realized, that those results will have the forecasted or expected consequences and effects for or on our operations or financial performance. The forward-looking statements made herein are as of the date of this press release. Walmart undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
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