The investment-grade notes offering comprises nine tranches

Davis Polk advised the representatives of the several underwriters in connection with an SEC-registered offering by The Home Depot, Inc. of $600 million aggregate principal amount of floating rate notes due 2025, $900 million aggregate principal amount of 5.100% notes due 2025, $1.5 billion aggregate principal amount of 5.150% notes due 2026, $1 billion aggregate principal amount of 4.875% notes due 2027, $1.25 billion aggregate principal amount of 4.750% notes due 2029, $1 billion aggregate principal amount of 4.850% notes due 2031, $1.75 billion aggregate principal amount of 4.950% notes due 2034, $1.5 aggregate principal amount of 5.300% notes due 2054 and $500 million aggregate principal amount of 5.400% notes due 2064.

The Home Depot is the world’s largest home improvement retailer, with 2,337 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 capital markets team included partner Pedro J. Bermeo and associates Arisa Akashi Sin and Tomisin Ogunsanya. Partner Mario J. Verdolini and associates William Liang and Richard P. Wang provided tax advice. Counsel Loyti Cheng and associate Timothy J. Sullivan provided environmental advice. All members of the Davis Polk team are based in the New York office.

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