...September 8, 2021 NEW YORK (S&P Global Ratings) Sept. 8, 2021--S&P Global Ratings today assigned its '##' issue-level rating to Walmart Inc.'s proposed senior unsecured notes. The final amount and maturity is still to be determined. This is the company's inaugural green bond offering, and the 10-year instrument is launching in conjunction with four other tranches of senior notes. Walmart also announced today it is commencing a cash tender offer for up to $8 billion for existing debt. Overall, we expect this five-part debt sale and tender to result in a modest de-leveraging for Walmart, which saw S&P Global Ratings-lease adjusted leverage in the low-1x range in the latest 12 months ended July 30, 2021. The company expects to use net proceeds from the green bond to finance or refinance as applicable a portfolio of eligible green investments. Its six eligible green categories include renewable energy, high performance buildings, sustainable transport, zero waste and circular economy, water...
