Toro to repay term loan debt with proceeds from $200 million notes

By Sarah Lizee

Olympia, Wash., June 27 – Toro Co. plans to repay debt under its existing term loan credit facility with proceeds from senior notes, according to an 8-K filing with the Securities and Exchange Commission.

The company said that it sold $100 million of its 3.81% series A senior notes due June 15, 2029 and $100 million of its 3.91% series B senior notes due June 15, 2031 in a private placement on Thursday.

Proceeds will also be used for general corporate purposes.

Toro is a Bloomington, Minn.-based provider of solutions for the outdoor environment, including turf maintenance, snow and ice management, landscape, rental and specialty construction equipment, and irrigation and outdoor lighting solutions.

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