Target Corporation Announces Final Results of Any and All Tender Offers
October 23 2017 - 9:03AM
Business Wire
Target Corporation (“Target”)
(NYSE:TGT) today announced the final results of its previously
announced tender offers (each, a “Tender
Offer”, and collectively, the “Tender
Offers”) to purchase for cash any and all of its debt
securities listed in the table below (collectively, the
“Notes” and each a “series” of Notes), which commenced on
October 16, 2017 and expired at 5:00 p.m., New York City time,
on October 20, 2017 (the “Expiration
Date”).
Target has accepted for purchase $343,572,000 aggregate
principal amount of Notes validly tendered and not validly
withdrawn prior to the Expiration Date, according to the
information provided by Global Bondholder Services Corporation, the
tender and information agent for the Tender Offers. Global
Bondholder Services Corporation has also advised that an additional
$1,237,000 aggregate principal amount of Notes remain subject to
guaranteed delivery procedures. Target will pay aggregate total
consideration and accrued interest of approximately $469,534,016
for the Notes accepted for purchase, excluding the Notes subject to
guaranteed delivery procedures. Target expects to make payment for
the accepted Notes in same-day funds today, October 23, 2017
(or October 25, 2017, for Notes tendered by guaranteed
delivery). The aggregate principal amount of each series of Notes
accepted for purchase is set forth in the table below.
Any and All of the Outstanding
Securities Listed Below (the “Notes”)
Title of Security CUSIP Number
Principal
AmountOutstanding
Principal AmountTendered at
ExpirationDateand
Accepted forPurchase
Principal AmountSubject to
GuaranteedDelivery Procedures
7.000% Notes due 2038 87612EAU0 $659,818,000
$42,558,000 — 6.500% Notes due 2037 87612EAR7
$580,611,000 $79,550,000 1,192,000 6.35% Debentures
due 2032 87612EAK2 $502,557,000 $152,896,000
45,000 7.00% Debentures due 2031 87612EAF3
$218,332,000 $5,182,000 — 6.65% Debentures due 2028
239753DL7 $115,827,000 $32,421,000 —
6.75% Debentures due 2028 239753DJ2 $135,479,000
$30,965,000 —
Information Relating to the Tender OffersBofA Merrill
Lynch, Deutsche Bank Securities and Goldman Sachs & Co. LLC are
the dealer managers for the Tender Offers. Investors with questions
regarding the Tender Offers may contact BofA Merrill Lynch at
(888) 292-0070 (toll free) or (980) 387-3907 (collect),
Deutsche Bank Securities at (866) 627-0391 (toll free) or
(212) 250-2955 (collect) or Goldman Sachs & Co. LLC at
(800) 828-3182 (toll free) or (212) 902-6595 (collect).
Global Bondholder Services Corporation is the tender and
information agent for the Tender Offers and can be contacted at
(866) 470-3900 (toll-free) or (212) 430-3774
(collect).
This press release is for informational purposes only and is not
an offer to buy, or the solicitation of an offer to sell, any of
the Notes.
About TargetMinneapolis-based Target Corporation
(NYSE:TGT) serves guests at 1,828 stores and at Target.com. Since
1946, Target has given 5 percent of its profit to communities,
which today equals millions of dollars a week. For more
information, visit Target.com/Pressroom. For a behind-the-scenes
look at Target, visit Target.com/abullseyeview or follow
@TargetNews on Twitter.
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version on businesswire.com: http://www.businesswire.com/news/home/20171023005798/en/
Target CorporationJohn Hulbert, Investors,
612-761-6627orErin Conroy, Media, 612-761-5928orTarget Media
Hotline, 612-696-3400
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