Woolworths Limited
(ASX:WOW) has confirmed that it plans to raise $500 million in unsecured, subordinated notes.
The announcement comes one day after the supermarket giant said it was considering a capital raising, in response to media speculation.
The notes will mature on November 24, 2036 and are expected to be priced between 325 basis points and 350 basis points.
Woolies says it will spend the funds on general corporate purposes.
In the 2011 financial year Woolworths improved its net profit by 5 per cent to $2.1 billion.
