Walmart is poised to pay off more than $600 billion in mortgage loans that it secured for nearly half of the U.S. economy, according to a company that did not immediately respond to requests for comment.
The company announced Thursday that it would repay $600.7 billion to the Federal Housing Finance Agency and other lenders, and will invest another $400 billion in a new business called Home Depot.
The U.K.-based retailer says the deal gives it the power to expand its presence in the U: Walmart plans to open a second headquarters in its hometown of Bentonville, Arkansas.
But the retailer said it would have to close the two facilities by 2021.
The new headquarters would be the first in the nation with more than 100,000 employees, and Walmart says it will hire an additional 150,000 people over the next decade.
The news comes as Walmart grapples with rising debt and rising regulatory scrutiny, which it has said could hurt sales.
The retailer said last week it would pay $8.5 billion in cash to settle a federal lawsuit filed by investors.