Wal-Mart Stores has sold a $5 billion four-part bond issue with a similar structure to a deal the company did in 2011.

The world's biggest retailer sold $1 billion of three-year notes at Treasuries plus 30 basis points, $1.25 billion of five-year notes at Treasuries plus 45bp, $1.75 billion of 10-year notes at Treasuries plus 82bp and $1 billion of 30-year notes at plus 102bp. The shorter tranches were slightly tighter than initial expected.

Proceeds of the deal, led by Barclays, Citigroup and Morgan Stanley, will be used for general corporate purposes.

Apparently, the deal was 2.2 times oversubscribed due to free cash flow that Wal-Mart generates.