Target Reports Entry into $4.0 Billion Credit Agreement
Summary
On August 14, 2026, Target Corporation entered into a Five-Year Credit Agreement for a $4.0 billion unsecured revolving credit facility, with the option to increase commitments by an additional $1.0 billion. This new facility, expiring August 14, 2031, replaces two prior credit agreements. Borrowings will bear interest at rates specified in the agreement, varying based on loan type and Target's debt ratings. - Terminated a $3.0 billion Five-Year Credit Agreement, dated October 18, 2021. - Terminated a $1.0 billion 364-Day Credit Agreement, dated October 9, 2025.
Why It Matters
The entry into a new $4.0 billion revolving credit facility, with potential for an additional $1.0 billion, significantly increases Target's available liquidity and extends its financing term. This enhances the company's financial flexibility and capital management compared to the terminated agreements.
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Key Quote
“On August 14, 2026, Target Corporation ("Target") entered into a Five-Year Credit Agreement with certain lenders, Bank of America, N.”
— From Item 1.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000027419
- Filing Date
- Friday, August 14, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive