secwatch.observer — SEC 8-K summary
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Issuer:     TARGET CORP (TGT)
CIK:        0000027419
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0000027419-24-000171
Event type: debt
Sentiment:  neutral
Materiality: 0.40
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
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/27419/000002741924000171/0000027419-24-000171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/27419/000002741924000171/tgt-20241015.htm
  HTML page:      https://secwatch.observer/filing/0000027419-24-000171

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