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

TARGET CORP

New $1.0B unsecured 364-day credit agreement (expandable by $500M) with syndicate of banks, expiring Oct 14, 2025.
Replaces prior 364-day credit agreement dated Oct 18, 2023, which was scheduled to expire Oct 16, 2024.
Borrowings bear interest at base rate or term SOFR plus margin based on Target's debt ratings; includes customary leverage ratio covenant.
Outstanding loans may be converted to term loans due one year after termination date at Target's option.

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