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

Apparel/Garments | On 29th Apr 2016

India’s apparel sector has huge job creation potential

Export-oriented apparel production in India and other South Asian...

Apparel/Garments | On 29th Apr 2016

Raymond’s net sales up 5% in FY16 to Rs 5,595 cr

Renowned Indian textile, apparel and fashion brand, Raymond reported...

Apparel/Garments | On 29th Apr 2016

eBay and Innotrac merge to become Radial

eBay Enterprise and Innotrac have joined forces to become Radial, the ...

Interviews View All

Thomas Waldmann
VDMA Textile Machinery Association

What is the current market scenario for German textile machineries,...

Logan Beam
All American Clothing Co.

What is the current ratio of fake 'Made in USA' clothes as compared to the ...

Nitisha Kapur
Breakbounce Streetwear

How is the market for streetwear faring in India? Is the demand same as in ...

Susan Stansbury
Converting Influence LLC

Susan Stansbury is the director of Converting Influence LLC. Converting...

Alessandro D'Andrea
Fameccanica.Data S.p.A.

Mr. Alessandro D’Andrea a Mechanical Engineer from Polytechnic of Turin...

Mr. Utkarsha Parikh
Skaps Industries India Pvt Ltd

Mr. Utkarsha N. Parikh is a 41 year old businessman who started his own...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search