secwatch.observer — SEC 8-K summary
======================================

Issuer:     TARGET CORP (TGT)
CIK:        0000027419
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0000027419-23-000041
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 1.02, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Target enters new $1.0B 364-day credit facility, replaces prior agreement
-------------------------------------------------------------------------

- $1.0B aggregate commitment, expandable by $500M, under 364-day credit agreement dated Oct 18, 2023.
- Replaces prior 364-day credit agreement that was set to expire Oct 24, 2023.
- Borrowings bear interest at base rate or term SOFR plus applicable margin based on debt ratings.
- Option to convert outstanding loans on termination to term loans due one year later.
- Customary covenants including leverage ratio and events of default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/27419/000002741923000041/0000027419-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/27419/000002741923000041/tgt-20231018.htm
  HTML page:      https://secwatch.observer/filing/0000027419-23-000041

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer