8-KExhibits & Filings

TARGET CORP 8-K Report, Exhibit Filing (Jul 16, 2010)

Filed July 16, 2010For Securities:TGT

Summary

Target Corporation (TGT) filed a Form 8-K on July 16, 2010, to report on the issuance of $1 billion in aggregate principal amount of 3.875% Senior Notes due 2020. This filing is in connection with a previously filed Form S-3 Registration Statement and serves to provide investors with important documentation related to this debt offering. The notes offer a fixed coupon of 3.875% and mature in 10 years, indicating Target's strategy to access capital markets for its corporate needs. The filing includes the form of the notes and legal opinions supporting the offering.

Key Highlights

  • 1Target Corporation issued $1,000,000,000 aggregate principal amount of 3.875% Senior Notes due 2020.
  • 2The issuance was made in connection with a Registration Statement on Form S-3 filed previously.
  • 3The filing date of the 8-K is July 16, 2010, with the event date being July 15, 2010.
  • 4This debt offering provides Target with long-term financing at a fixed interest rate.
  • 5Key exhibits filed include the form of the Notes and the legal opinion from Faegre & Benson LLP.
  • 6The notes represent a significant capital raise for the company.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report on the issuance of $1 billion in 3.875% Senior Notes due 2020 by Target Corporation. It also serves to file essential documentation related to this debt offering as exhibits.

The notes have an aggregate principal amount of $1,000,000,000, carry a fixed interest rate of 3.875% per annum, and are due in 2020.

While the 8-K doesn't explicitly state the use of proceeds, such debt issuances are typically for general corporate purposes, which can include funding operations, capital expenditures, acquisitions, or refinancing existing debt. This offering was made in conjunction with a Form S-3, indicating a planned or ongoing effort to raise capital.

The key exhibits filed with this 8-K include the form of the 3.875% Notes due 2020, the legal opinion from Faegre & Benson LLP regarding the notes, and the consent of Faegre & Benson LLP.