Obbligazione Walton Inc. 5.875% ( US931142CH46 ) in USD

Emittente Walton Inc.
Prezzo di mercato refresh price now   102.396 USD  ▼ 
Paese  Stati Uniti
Codice isin  US931142CH46 ( in USD )
Tasso d'interesse 5.875% per anno ( pagato 2 volte l'anno)
Scadenza 04/04/2027



Prospetto opuscolo dell'obbligazione Walmart Inc US931142CH46 en USD 5.875%, scadenza 04/04/2027


Importo minimo 1 000 USD
Importo totale 750 000 000 USD
Cusip 931142CH4
Standard & Poor's ( S&P ) rating AA ( High grade - Investment-grade )
Moody's rating Aa2 ( High grade - Investment-grade )
Coupon successivo 05/04/2026 ( Domani )
Descrizione dettagliata Walmart Inc. č una multinazionale americana della grande distribuzione, leader mondiale nel settore retail con attivitā che includono ipermercati, supermercati, e-commerce e altri servizi.

The Obbligazione issued by Walton Inc. ( United States ) , in USD, with the ISIN code US931142CH46, pays a coupon of 5.875% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 04/04/2027

The Obbligazione issued by Walton Inc. ( United States ) , in USD, with the ISIN code US931142CH46, was rated Aa2 ( High grade - Investment-grade ) by Moody's credit rating agency.

The Obbligazione issued by Walton Inc. ( United States ) , in USD, with the ISIN code US931142CH46, was rated AA ( High grade - Investment-grade ) by Standard & Poor's ( S&P ) credit rating agency.







FINAL PROSPECTUS SUPPLEMENT
424B2 1 d424b2.htm FINAL PROSPECTUS SUPPLEMENT
Table of Contents
Filed pursuant to Rule 424(b)
(2)
SEC File No. 333-130569
CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities
Maximum Aggregate
Amount of
to be Registered

Offering Price

Registration Fee(1)(2)
Debt Securities

$2,250,000,000

$69,075
(1) Calculated in accordance with Rule 457(r) under the Securities Act of 1933.
(2) This "Calculation of Registration Fee" table shall be deemed to update the "Calculation of Registration
Fee" table in the Company's Registration Statement on Form S-3 (File No. 333-130569) in accordance with
Rules 456(b) and 457(r) under the Securities Act of 1933.
PROSPECTUS SUPPLEMENT
(To Prospectus dated December 21, 2005)
$2,250,000,000
Wal-Mart Stores, Inc.
$500,000,000 5.000% Notes Due 2012
$1,000,000,000 5.375% Notes Due 2017
$750,000,000 5.875% Notes Due 2027


We are offering $500,000,000 of our 5.000% notes due 2012, $1,000,000,000 of our 5.375% notes due 2017 and
$750,000,000 of our 5.875% notes due 2027.

We will pay interest on the notes of each series on April 5 and October 5 of each year, beginning on October 5,
2007. Interest will accrue from April 5, 2007. The 2012 notes will mature on April 5, 2012; the 2017 notes will
mature on April 5, 2017; and the 2027 notes will mature on April 5, 2027.

The notes of each series will be our senior unsecured debt obligations and will rank equally with our other senior
unsecured indebtedness. The notes of each series will not be convertible or exchangeable. The notes will not be
redeemable except upon the occurrence of certain events relating to U.S. taxation as described under
"Description of the Notes--Redemption upon Tax Event" in this prospectus supplement.

http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (1 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
We will not list the notes of any series for trading on any securities exchange. Currently, no public market exists
for the notes of any series.

Per 2012
Per 2017
Per 2027


Note
Note
Note
Total
Public Offering Price

99.646% 99.626% 99.813% $2,243,087,500
Underwriting Discount

0.350%
0.450%
0.875% $ 12,812,500
Proceeds, before expenses, to Wal-Mart Stores, Inc.

99.296% 99.176% 98.938% $2,230,275,000
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus supplement or the accompanying
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The underwriters expect to deliver the notes in book-entry form through the facilities of The Depository Trust
Company on or about April 5, 2007.

Joint Book-Running Managers
DEUTSCHE BANK SECURITIES
JPM
L

ORGAN

EHMAN BROTHERS
Senior Co-Managers
CREDIT SUISSE CITIGROUP GOLDMAN, SACHS & CO. UBS INVESTMENT BANK
Co-Managers

BANC OF AMERICA SECURITIES LLC

CASTLEOAK SECURITIES, L.P.
DAIWA SECURITIES AMERICA INC.

DRESDNER KLEINWORT
GUZMAN & COMPANY

HSBC
MITSUBISHI UFJ SECURITIES

MIZUHO SECURITIES USA INC.
SIEBERT CAPITAL MARKETS

SANTANDER INVESTMENT
STANDARD CHARTERED BANK

TD SECURITIES
WACHOVIA SECURITIES

March 29, 2007

http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (2 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
Table of Contents
TABLE OF CONTENTS
Prospectus Supplement

Page
Wal-Mart Stores, Inc.

S-3
Use of Proceeds

S-3
Capitalization

S-4
Selected Financial Data

S-5
Ratio of Earnings to Fixed Charges

S-6
Description of the Notes

S-7
Book-Entry Issuance

S-9
Tax Consequences to Holders

S-10
Underwriting

S-11
Validity of the Notes

S-14
General Information

S-14
Prospectus

Page
About this Prospectus

2
Where You Can Find More Information

3
Cautionary Statement Regarding Forward- Looking Statements and Information

4
Wal-Mart Stores, Inc.

6
Ratio of Earnings to Fixed Charges

6
Use of Proceeds

7
Description of the Debt Securities

8
Book-Entry Issuance

21
Tax Consequences to Holders

25
Plan of Distribution

33
Legal Matters

36
Experts

36


You should rely on the information contained in this prospectus supplement and contained or incorporated by
reference into the accompanying prospectus. No one has been authorized to provide you with different
information. If this prospectus supplement is inconsistent with the accompanying prospectus, you should rely on
the information contained in this prospectus supplement.
The distribution of this prospectus supplement and the accompanying prospectus and the offering or sale of the
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (3 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
notes in some jurisdictions may be restricted by law. Persons into whose possession this prospectus supplement
and the accompanying prospectus come are required by us and the underwriters to inform themselves about and
to observe any applicable restrictions. This prospectus supplement and the accompanying prospectus may not be
used for or in connection with an offer or solicitation by any person in any jurisdiction in which that offer or
solicitation is not authorized or to any person to whom it is unlawful to make that offer or solicitation. See
"Underwriting" in this prospectus supplement.

S-2
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (4 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
Table of Contents
WAL-MART STORES, INC.
We are a global retailer, with total net sales of $345.0 billion in our fiscal year ended January 31, 2007. We
operate retail stores in various formats around the world, serving our customers through the operation of three
business segments:

· Wal-Mart Stores, which include our supercenters, discount stores and Neighborhood Markets in the

United States;


· Sam's Clubs, which include our warehouse membership Clubs in the United States; and


· the International segment of our business.
We currently operate in all 50 states of the United States, as well as in Argentina, Brazil, Canada, Costa Rica, El
Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom, and in China
under joint venture agreements. As of January 31, 2007, we operated in the United States:


· 2,256 supercenters;


· 1,075 discount stores;


· 112 Neighborhood Markets; and


· 579 Sam's Clubs.
As of January 31, 2007, we operated 289 units in Canada, 13 units in Argentina, 299 units in Brazil, 137 units in
Costa Rica, 63 units in El Salvador, 132 units in Guatemala, 41 units in Honduras, 392 units in Japan, 889 units
in Mexico, 40 units in Nicaragua, 54 units in Puerto Rico, 335 units in the United Kingdom and, under joint
venture agreements, 73 units in China. The units in these countries include various retail formats and, in Mexico,
restaurants. Our operations in Central America, Japan and Mexico are conducted through majority-owned
subsidiaries.
Wal-Mart Stores, Inc. is the parent company of a group of subsidiary companies, including Wal-Mart.com, Inc.,
Asda Group Limited, The Seiyu, Ltd., Wal-Mart de Mexico, S.A. de C.V., Wal-Mart Central America, Sam's
West, Inc., Sam's East, Inc., Wal-Mart Stores East, LP, Sam's Property Co., Wal-Mart Property Co., Wal-Mart
Real Estate Business Trust and Sam's Real Estate Business Trust. The information presented above relates to our
operations and our subsidiaries on a consolidated basis.
USE OF PROCEEDS
We estimate that the net proceeds from the sale of the notes will be approximately $2,230,075,000 after
underwriting discounts and payment of transaction expenses.
We will use the net proceeds from the sale of the notes to repay a portion of our commercial paper indebtedness.

S-3
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (5 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (6 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
Table of Contents
CAPITALIZATION
The following table presents the consolidated capitalization of Wal-Mart Stores, Inc. and its subsidiaries at
January 31, 2007 and as adjusted to give effect to the offering of the notes being offered hereby and the
application of the net proceeds from the sale of the notes (after underwriting discounts and estimated transaction
expenses) to repay a portion of our commercial paper indebtedness.



January 31, 2007
As


Actual Adjusted


(in millions)
Short-term debt


Commercial paper
$
2,570 $
340
Long-term debt due within one year

5,428 5,428
Obligations under capital leases due within one year

285
285






Total short-term debt and capital lease obligations

8,283 6,053
Long-term debt


5.000% notes due 2012

--
500
5.375% notes due 2017

-- 1,000
5.875% notes due 2027

--
750
Other long-term debt
27,222 27,222
Long-term obligations under capital leases

3,513 3,513






Total long-term debt and capital lease obligations
30,735 32,985
Shareholders' equity


Common stock and capital in excess of par value

3,247 3,247
Retained earnings
55,818 55,818
Accumulated other comprehensive income

2,508 2,508






Total shareholders' equity
61,573 61,573






Total debt and capital lease obligations and shareholders' equity
$100,591 $100,611






We are offering the notes pursuant to a shelf registration statement that we have on file with the SEC
(Registration No. 333-130569), of which the accompanying prospectus is a part and this prospectus supplement
is deemed to be a part. No limit exists on the amount of our debt securities that we may offer and sell pursuant to
that shelf registration statement.

S-4
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (7 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
Table of Contents
SELECTED FINANCIAL DATA
The following table presents selected financial data of Wal-Mart and its subsidiaries for the fiscal years specified.



Fiscal Years Ended January 31,


2007
2006
2005
2004
2003


(in millions)
Income Statement Data:





Net sales
$344,992 $308,945 $281,488 $252,792 $226,479
Cost of sales
264,152 237,649 216,832 195,922 175,769
Operating, selling, general and administrative
expenses
64,001 55,739 50,178 43,877 39,178
Interest expense, net

1,529 1,178
980
825
930
Income from continuing operations
12,178 11,408 10,482
9,096 7,940
Net income
11,284 11,231 10,267
9,054 7,955


As of January 31,


2007
2006
2005
2004
2003


(in millions)
Balance Sheet Data:





Current assets of continuing operations
$ 46,588 $ 43,146 $ 37,913 $ 33,548 $ 28,867
Inventories
33,685 31,910 29,419 26,263 24,098
Property, equipment and capital lease assets, net
88,440 77,865 66,549 57,591 50,053
Total assets of continuing operations
151,193 135,624 117,139 102,455 90,229
Current liabilities of continuing operations
51,754 48,348 42,609 37,308 31,752
Long-term debt
27,222 26,429 20,087 17,088 16,545
Long-term obligations under capital leases

3,513 3,667 3,073 2,888 2,903
Shareholders' equity
61,573 53,171 49,396 43,623 39,461
The above selected financial data as of and for the fiscal years ended January 31, 2003, 2004, 2005, 2006 and
2007 have been reclassified to reflect the dispositions of our operations in South Korea and Germany, both of
which were completed in the third quarter ended October 31, 2006. The amounts related to our South Korean and
German operations, including our gain on the disposition of our South Korean operations and the loss on our
disposition of our German operations, and the assets and liabilities of those operations have been treated as
discontinued operations in our consolidated statements of income, condensed statements of cash flows and
condensed balance sheets commencing in the quarter ended July 31, 2006. In addition, the above selected
financial data as of January 31, 2003 and for the fiscal year then ended have been reclassified to reflect the sale of
McLane Company, Inc. ("McLane") on May 23, 2003. McLane has been treated as a discontinued operation
commencing in the quarter ended July 31, 2003.
On February 1, 2003, we adopted the expense recognition provisions of the Financial Accounting Standards
Board Statement No. 123, Accounting and Disclosure of Stock-Based Compensation ("FAS 123"), under which
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (8 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
we recognize non-cash compensation expense based on the fair value of the stock options granted by us. We have
chosen to restate retroactively our results of operations for that accounting charge. The above income statement
data for the year ended January 31, 2003 has been restated from prior presentations to reflect that expense
recognition. Following the provisions of FAS 123, we have reflected in the above table the recognition of pre-tax
stock option expense of $130 million for fiscal year 2003. This expense is included in the amounts under
"Operating, selling, general and administrative expenses" in the above income statement data. We adopted the
revision to FAS 123 issued by the Financial Accounting Standards Board in December 2004 ("FAS 123R") upon
its release. Our adoption of FAS 123R did not have a material impact on our results of operations, financial
position or cash flows.

S-5
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (9 of 93)4/10/2007 7:31:57 AM


FINAL PROSPECTUS SUPPLEMENT
Table of Contents
RATIO OF EARNINGS TO FIXED CHARGES
We have modified the manner in which we calculate our ratio of earnings to fixed charges following the
disposition of our German and South Korean operations, which dispositions are discussed under "Selected
Financial Data" in this prospectus supplement. For the purpose of computing our ratios of earnings to fixed
charges, we now define "earnings" to mean our earnings from continuing operations before income taxes and
fixed charges, excluding capitalized interest and earnings attributable to minority interests owned by others in our
subsidiaries. The information contained under the "Ratio of Earnings to Fixed Charges" in the accompanying
prospectus that describes the manner in which we calculate our ratio of earnings to fixed charges otherwise
remains accurate.
As a result of the change described above, certain reclassifications have been made to the periods ended
January 31, 2006 to conform to the fiscal 2007 presentation. In addition, the effect of the dispositions of our
South Korean and German operations in the quarter ended October 31, 2006 and of the sale of McLane in May,
2003, which is discussed above under "Selected Financial Data," has been excluded for all periods presented.
The following table sets forth the ratio of our earnings to fixed charges for the periods indicated calculated as
described above and otherwise as described in the accompanying prospectus and supersedes the table showing
the ratios of earnings to fixed charge set forth under "Ratio of Earnings to Fixed Charges" in the accompanying
prospectus:

Year Ended January 31,
2007

2006

2005

2004

2003
8.7x

9.8x

10.7x

10.7x

9.1x

S-6
http://www.sec.gov/Archives/edgar/data/104169/000119312507072076/d424b2.htm (10 of 93)4/10/2007 7:31:57 AM


Document Outline