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.

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