Target Reports Entry into New $1.0 Billion 364-Day Credit Agreement
Summary
Target Corporation entered into a new 364-Day Credit Agreement on October 9, 2025, with various banks, including Bank of America, N.A. as administrative agent. This agreement provides for loans in an aggregate principal amount of up to $1.0 billion, with an option to increase by up to $500 million. The new facility, which expires on October 8, 2026, replaces Target's prior 364-Day Credit Agreement dated October 15, 2024.
Why It Matters
This new $1.0 billion credit facility, replacing a prior agreement, ensures Target maintains access to significant liquidity, which is crucial for operational flexibility and managing short-term financing needs.
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Key Quote
“On October 9, 2025, Target Corporation ("Target") entered into a 364-Day Credit Agreement (the "Credit Agreement") with the banks listed therein (the "Banks"), the co-documentation agents listed therein, Bank of America, N.”
— From Item 1.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000027419
- Filing Date
- Thursday, October 9, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive