secwatch.observer — SEC 8-K summary
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Issuer:     TORO CO (TTC)
CIK:        0000737758
Form:       8-K
Filed at:   2021-10-06T23:59:59+00:00
Accession:  0001564590-21-050239
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737758/000156459021050239/0001564590-21-050239-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737758/000156459021050239/ttc-8k_20211005.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-050239

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