Apparel retailer Target prices pending tender offers

02 Jul '14

2 min read

Target Corporation announced the consideration payable in connection with its previously announced tender offers (the “Tender Offers”), which commenced on June 17, 2014 to purchase up to $1,000,000,000 in aggregate purchase price (the “Maximum Payment Amount”) of its notes or debentures (collectively, the “Notes” and each a “series” of Notes).

The Tender Offers will expire at 11:59 p.m., New York City time, on July 15, 2014, unless extended (such date and time, as the same may be extended, the “Expiration Date”). The Tender Offers are being made solely pursuant to 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 announced the initial results of the Tender Offers on June 30, 2014.

Only Holders of Notes who validly tendered and did not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on June 30, 2014 (such date and time, the “Early Tender Date”) are eligible to receive the “Total Consideration” listed in the table above for Notes accepted for purchase. Withdrawal rights for the Tender Offers expired at the Early Tender Date. 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 “Late Tender Offer Consideration” for any such Notes accepted for purchase.

Holders will also receive accrued and unpaid interest on Notes validly tendered and accepted for purchase from the last interest payment date up to, but not including, the date Target makes payment in same-day funds for such Notes, which date is anticipated to be July 16, 2014.

Target Corporation

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