Photo: Shoppers outside a Costco store in New York. Photographer: Bing Guan/Bloomberg Shoppers outside a Costco store in New York. Photographer: Bing Guan/Bloomberg

Costco Wholesale Corp.’s Richard Galanti, who has served as CFO of the warehouse club retailer since 1985, says he views the more-than-decade-long period of low interest rates in the United States as an anomaly.

Finance chiefs at many companies face a balancing act due to recent increases in financing costs, according to Galanti, one of the longest-serving CFOs at an S&P 500 company. Costco is considering repaying a $1 billion bond maturing in 2024 with cash and won’t be buying back any debt ahead of its maturity, he said, adding that refinancing at current rates doesn’t make sense.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.