Target prepares two-part offering of fixed-rate notes

Chicago, Jan. 17 – Target Corp. is offering two tranches of fixed-rate notes, according to a 424B2 filing with the Securities and Exchange Commission.

Both notes will have make-whole call options with par call options a number of months before their maturity dates.

Any change of control will make the notes putable at 101.

The company is using a team of six bookrunners it has used previously: Barclays, BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC.

Bank of New York Mellon Trust Co., NA will be the trustee.

Faegre Drinker Biddle & Reath LLP is advising Target. Simpson Thacher & Bartlett LLP is working as counsel for the underwriters.

Proceeds will be used for general corporate purposes.

The discount merchandise retailer is based in Minneapolis.

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