Target Corporation 8-K
Debt financing
Two revolving credit lines replaced by a five-year unsecured facility, extending maturity to August 2031 with expansion and extension options.
Filed 2026-08-14 16:42 ET
- 1.01 Entry into a Material Agreement
- 1.02 Termination of a Material Agreement
- 2.03 Creation of a Financial Obligation
- 9.01 Financial Statements and Exhibits
Summary
Target replaced two revolving credit agreements with a new $4.0B unsecured five-year facility, expiring 8/14/2031. The facility may be increased by up to $1.0B, subject to conditions, and has two one-year extension options.
Key Figures
- New facility: $4.0B unsecured revolving credit; commitments may increase by up to $1.0B. Interest rates vary by loan type and Target’s debt ratings.
- Terminated facilities: $3.0B five-year agreement, previously scheduled to expire 10/18/2028, and $1.0B 364-day agreement, previously scheduled to expire 10/8/2026.
- The new agreement includes a leverage-ratio financial covenant and customary defaults; following an uncured or unwaived default, lenders may accelerate obligations.
The summary is written by an AI model reading the filing.
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