Australian conglomerate Woolworths Ltd (ASX: WOW) announced on Wednesday its issuance of up to $US1.25 billion ($A1.33 billion) worth of US bonds that the company said would be utilised to refinance its existing debt facilities.

The giant retailer said that the first issue of $US500 million senior note and carrying a fixed-rate of 2.55 percent was priced at 99.883 percent of the principal while the second issue of $US750 million with a fixed-rate of 4.00 percent for 10 years was priced at 99.877 percent of the principal.

Woolworths said that aside from the planned repayments of the company's maturing liabilities, parts of the notes proceeds could also be allocated to the off-market share buy-backs announced in August which could reach a total of $700 million.