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Home Depot of Canada launches US$250 million commercial paper program

Fasken
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Home Depot of Canada

On November 6, 2007, Home Depot of Canada Inc. launched its Canadian commercial paper program for the issuance of up to $250 million of commercial paper. The commercial paper is unconditionally guaranteed by its parent company, The Home Depot, Inc. The dealers for the commercial paper program are RBC Dominion Securities Inc. and HSBC Bank Canada. DBRS Limited assigned an R-1(low) rating to the commercial paper. Net proceeds from the program will be used by Home Depot of Canada Inc. to fund the seasonal needs of its Canadian operations, to fund its working capital needs and for general corporate purposes. Home Depot of Canada Inc. was advised by Jonathan Gottsegen, Director - Corporate and Securities Practice Group for The Home Depot, Inc. and by Fasken Martineau with a team comprised of John Sabetti, Scott Mitchell and Catherine Fraser (securities) and Kathleen Hanly (tax).

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