Toro enters $200M term loan to refinance acquisition debt

TORO CO

$200M unsecured term loan credit agreement dated April 27, 2022.
Proceeds refinance borrowings from Intimidator Group acquisition (Jan 13, 2022).
Interest rate based on Term SOFR or Base Rate plus Applicable Rate tied to leverage and debt rating.
Five-year term; quarterly amortization begins June 2025.
Joint lead arrangers: Wells Fargo, BofA Securities, U.S. Bank.

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