Home / Knowledge / News / Apparel/Garments / Target commences tender offer to purchase notes
Target commences tender offer to purchase notes
18
Jun '14
Target Corporation announced that it has commenced tender offers to purchase for cash the six series of Notes or Debentures.
 
The tender offers consist of offers to purchase up to the Maximum Payment Amount of the six series of Notes listed in the table above (the “Tender Offers”) on the terms set forth in the offer to purchase and related letter of transmittal, each dated June 17, 2014 (as they may be amended or supplemented, the “Tender Offer Documents”). Target refers investors to the Tender Offer Documents for the complete terms of the Tender Offers.
 
The “Maximum Payment Amount” is $1,000,000,000. The Total Consideration and Late Tender Offer Consideration paid in connection with the Tender Offers will not exceed the Maximum Payment Amount. If any Notes are validly tendered such that the applicable Total Consideration and Late Tender Offer Consideration payable for such Notes exceed the Maximum Payment Amount, the Notes will be purchased in accordance with the acceptance priority levels set forth in the table above (the “Acceptance Priority Levels”). 
 
All Notes of a series having a higher Acceptance Priority Level will be accepted for purchase before any tendered Notes having a lower Acceptance Priority Level are accepted. If there are sufficient remaining funds to purchase some, but not all, of the Notes of a series, the amount of such Notes purchased will be on a prorated basis as described more fully in the Tender Offer Documents. Target may increase or decrease the Maximum Payment Amount in its sole discretion.
 
The Tender Offers will expire at 11:59 p.m., New York City time, on July 15, 2014, unless extended or earlier terminated (such date and time, as the same may be extended, the “Expiration Date”). Holders of Notes must validly tender and not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on June 30, 2014, unless extended or earlier terminated (such date and time, as the same may be extended, the “Early Tender Date”) to be eligible to receive the applicable Total Consideration, as calculated using the fixed spread for each series of Notes set forth in the table above, which is inclusive of an amount in cash equal to the amounts set forth in the table above under the heading “Early Tender Payment” (the “Early Tender Payment”).
 
Holders of Notes who validly tender their Notes after the Early Tender Date, but at or prior to the Expiration Date, will be eligible only to receive an amount equal to the applicable Total Consideration minus the Early Tender Payment (the “Late Tender Offer Consideration”).
 
Notes may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time,on June 30, 2014 unless such date and time is extended or earlier terminated by Target, but not thereafter.
 
Click here to view more details.
 

Target Corporation

Must ReadView All

Textiles | On 25th Aug 2016

Monsanto withdraws next gen GM cotton seed application

American multinational agricultural biotechnology major Monsanto has...

Textiles | On 25th Aug 2016

Gujarat, MP & Delhi take GST ratified tally to 8

The number of states that have ratified the Constitution (122nd...

Courtesy: Technip

Textiles | On 25th Aug 2016

Technip & Metabolic to assess combining polymer technology

Technip and Metabolic Explorer have inked an agreement to evaluate...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search