---
schema_version: "secwatch.filing_event.v1"
accession: "0000737758-24-000050"
form_type: "8-K"
ticker: "TTC"
cik: "0000737758"
company_name: "TORO CO"
filed_at: "2024-10-03T23:59:59+00:00"
generated_at: "2026-05-30T21:53:42.018529+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Toro enters $1.1B credit agreement: $200M term loan funded, $900M revolver

## Summary
- Five-year unsecured facilities: $200M term loan (fully funded Oct 2, 2024) and $900M revolving credit facility.
- Revolver includes $10M L/C sublimit and $75M swingline sublimit; may be increased by up to $450M.
- Replaces prior $270M term loan and $600M revolver under the 2021 credit agreement; ~$17.7M revolver outstanding at closing.
- Quarterly amortization of term loan begins Dec 31, 2027 ($5M per quarter); final maturity Oct 31, 2029.
- Proceeds for working capital, capex, stock buybacks, and refinancing of existing debt.

## SEC filing metadata
- accession: 0000737758-24-000050
- form_type: 8-K
- ticker: TTC
- cik: 0000737758
- company_name: TORO CO
- filed_at: 2024-10-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/737758/000073775824000050/0000737758-24-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/737758/000073775824000050/ttc-20241002.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000737758-24-000050
- JSON: https://secwatch.observer/filing/0000737758-24-000050.json
- Plain text: https://secwatch.observer/filing/0000737758-24-000050.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.