Costco Wholesale Corporation Announces $4 Billion Debt Offering

ISSAQUAH, Wash., April 16, 2020 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced the pricing of its offering of $4 billion aggregate principal amount of senior unsecured notes. The notes consist of the following tranches:

• $1.25 billion principal amount of 1.375% notes due June 20, 2027
   
• $1.75 billion principal amount of 1.6% notes due April 20, 2030
   
• $1 billion principal amount of 1.75 % notes due April 20, 2032

Costco intends to use the net proceeds from the offering to repay at or prior to maturity all of our 2.15% Senior Notes due May 2021, in an aggregate principal amount of $1 billion, as well as all of our 2.25% Senior Notes due February, 2022, in an aggregate principal amount of $500 million. Remaining proceeds will be used for general corporate purposes. The offering is expected to close on April 20, 2020, subject to customary closing conditions.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any debt securities of Costco, nor shall there be any sale of debt securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The debt offering will be made only by means of a prospectus supplement and accompanying base prospectus forming part of an effective shelf registration statement. Copies of the prospectus supplement and accompanying base prospectus may be obtained, when available, from: Credit Suisse Prospectus Department, Eleven Madison Avenue, New York, New York 10010, Telephone: [phone], [e-mail]; BofA Securities, Inc., c/o BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3^rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, Telephone: [phone], [e-mail]; and Citigroup Global Markets, Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: [phone]; [e-mail].

Costco currently operates 787 warehouses, including 547 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 12 in Australia, two in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.