Target Corporation (TGT, Financial) has successfully closed the sale of $1 billion in aggregate principal amount of notes, as disclosed in a recent Form 8-K filing with the U.S. Securities and Exchange Commission. The offering includes $500 million of 4.350% Notes due 2028 and $500 million of 5.250% Notes due 2036. This strategic financial move is part of Target's ongoing efforts to optimize its capital structure and enhance liquidity.
The notes were issued under an Underwriting Agreement dated June 5, 2025, with Barclays Capital Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC acting as representatives of the underwriters. The offer and sale were registered under Target's automatic shelf registration statement filed with the SEC on November 22, 2023.
The issuance of these notes is governed by an Indenture dated August 4, 2000, between Target and The Bank of New York Mellon Trust Company, N.A., as trustee. This Indenture was supplemented by a First Supplemental Indenture dated May 1, 2007. The proceeds from this offering are expected to provide Target with additional financial flexibility to support its strategic initiatives and operational needs.
For more detailed information on the terms and conditions of the notes, interested parties can refer to the prospectus supplement and accompanying prospectus filed with the SEC.
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