TORO CO (TTC): debt financing — Toro issues $200M of 5.27% Senior Notes due 2032 to repay term loan

TORO CO

Issued $200M principal of 5.27% Senior Notes due September 30, 2032.
Proceeds used to fully repay $200M outstanding under Term Loan Credit Agreement and for general corporate purposes.
Interest payable semiannually starting March 30, 2026; prepayable at 100% plus make-whole premium.
Notes are senior unsecured obligations; customary covenants including max leverage ratio and most favored lender clause.
Change-of-control put right at 100% of principal plus accrued interest.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TORO CO incurred senior notes of $200 million with the purchasers named in the 2025 Note Purchase Agreement at 5.27% maturing September 30, 2032.

Instrument: senior notes
Principal: $200 million
Counterparty: the purchasers named in the 2025 Note Purchase Agreement
Rate: 5.27%
Maturity: September 30, 2032
Event: incurrence

Exact text from the filing

On September 30, 2025, The Toro Company (“TTC”) entered into a note purchase agreement (the “2025 Note Purchase Agreement”) with the purchasers named therein to which TTC agreed to issue and sell, and the purchasers agreed to purchase, an aggregate principal amount of $200 million of TTC’s 5.27% Senior Notes due September 30, 2032 (the “2025 Notes”).

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Source: SEC EDGAR

accession 0001628280-25-043263

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