secwatch.observer — SEC 8-K summary
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Issuer:     TORO CO (TTC)
CIK:        0000737758
Form:       8-K
Filed at:   2022-04-28T23:59:59+00:00
Accession:  0001140361-22-016358
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Toro enters $200M term loan to refinance acquisition debt
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737758/000114036122016358/0001140361-22-016358-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737758/000114036122016358/brhc10036785_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-016358

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