Target offers five-year notes at 60 bps area over Treasuries, 30-year notes at 100 bps area spread

By Devika Patel and Cristal Cody

Knoxville, Tenn., Jan. 19 – Target Corp. plans to price fixed-rate notes (A2) in two tranches, according to a 424B2 filed with the Securities and Exchange Commission.

The notes due Jan. 15, 2027 are talked to yield in the 60 basis points area over Treasuries, and the notes due Jan. 15, 2052 are talked in the 100 bps area over Treasuries, a market source told Prospect News.

The notes feature a make-whole call and then a par call.

Barclays, BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes.

The discount merchandise chain is based in Minneapolis.

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