Toro enters $600M revolver and $270M term loan, extends maturity to 2026

TORO CO

New $600M five-year unsecured revolving credit facility, maturing October 5, 2026.
New $270M five-year unsecured term loan, fully funded at close, with quarterly amortization of $6.75M from Dec 2024.
Prior $270M term loan and $3.1M in outstanding revolver letters of credit repaid and replaced.
Interest based on LIBOR or prime plus spread depending on leverage ratio and debt rating.
Facility includes $30M swingline sublimit and $10M letter-of-credit sublimit.

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