Target Secures $4 Billion Five-Year Revolving Credit Facility

Target entered into a five-year, $4.0 billion unsecured revolving credit agreement with a lender group led by Bank of America, N.A. as administrative agent, with Citibank, Wells Fargo, JPMorgan Chase and U.S. Bank serving in syndication or documentation roles. The facility expires August 14, 2031, may be expanded by up to $1.0 billion subject to conditions, and provides Target with additional borrowing capacity; interest rates vary based on loan type and Target’s debt ratings.