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iCommon Stock, $0.008 par value
iTSCO
iNASDAQ
Global Select Market
Item 1.01 Entry into a Material Definitive Agreement.
On March 12, 2020, Tractor Supply Company (the "Company") entered into an Incremental Term Loan Agreement (the "Agreement"), by and among the Company, as Borrower, certain subsidiaries of the Company, and Wells Fargo Bank, National Association, as Administrative Agent and
Lender, pursuant to an accordion feature available under the Company's Credit Agreement dated as of February 19, 2016 by and among the Company, certain subsidiaries of the Company, certain lenders, Wells Fargo Bank, National Association as Administrative Agent, and Regions Bank as Syndication Agent, for the lenders, as amended from time to time (the "Senior Credit Facility"). The Agreement increases the term loan capacity under the Senior Credit Facility by $200 million, which is in addition to the Senior Credit Facility's existing term loan and revolving credit facility.
The
Agreement is unsecured and has a term expiring on March 16, 2022. Borrowings under the Agreement will bear interest at a variable rate; however, similar to our existing term loans, the Company has entered into an interest rate swap agreement which effectively provides a fixed rate for these borrowings and serves to manage our exposure to interest rate volatility. Proceeds from the incremental $200 million term loan will be used for general business purposes.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the incremental term loan agreement, which is attached hereto as Exhibit 10.1, and the credit agreement
constituting the Senior Credit Facility which was filed as Exhibit 10.1 to Current Report on Form 8-K, filed with the Commission on February 22, 2016, Commission File No. 000-23314, and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
10.1 Incremental Term Loan Agreement, dated as of March 12, 2020, by and among Tractor Supply Company, as Borrower, certain subsidiaries of the Company, and Wells Fargo Bank, National Association, as Administrative Agent and Lender.
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
