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Long-Term Debt
 3 Months Ended
May 01, 2020
Long-Term Debt  
Long-Term Debt Long-Term Debt - On March 26, 2020, the Company issued $4.0 billion of unsecured fixed rate notes as follows:
Principal Amount
(in millions)
 
Maturity Date
 
Interest Rate
 
Discount (in millions)
$
750

 
April 2025
 
4.000%
 
$
4

$
1,250

 
April 2030
 
4.500%
 
$
12

$
750

 
April 2040
 
5.000%
 
$
10

$
1,250

 
April 2050
 
5.125%
 
$
13



Interest on the notes is payable semiannually in arrears in April and October of each year until maturity.

The indenture governing the notes contains a provision that allows the Company to redeem these notes at any time, in whole or in part, at specified redemption prices, plus accrued and unpaid interest, if any, up to, but excluding, the date of redemption. The indenture also contains a provision that allows the holders of the notes to require the Company to repurchase all or any part of their notes if a change of control triggering event occurs. If elected under the change of control provisions, the repurchase of the notes will occur at a purchase price of 101% of the principal amount, plus accrued and unpaid interest, if any, on such notes up to, but excluding, the date of purchase. The indenture governing the notes does not limit the aggregate principal amount of debt securities that the Company may issue and does not require the Company to maintain specified financial ratios or levels of net worth or liquidity.