Tractor Supply Company Enters into New Credit Agreement

Details

The new Senior Credit Facility consists of a revolving credit facility with a maximum principal amount of $1.30 billion, including options to increase the facility and establish term loans up to an additional $500.0 million. The facility has a five-year term with options to extend the maturity date by one year. Interest rates are based on the bank's base rate or Term SOFR plus a margin, and the Company must maintain a leverage ratio of not greater than 4.00 to 1.00. The agreement also includes customary covenants and events of default.

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About Tractor Supply Company

Tractor Supply Company operates as a rural lifestyle retail store in the United States. It serves the needs of recreational farmers, ranchers, and anyone who enjoys activities related to rural living. Offering an extensive range of products, the company supplies essential equipment and tools, livestock and pet care items, hardware, truck, towing, and tool products. Additionally, their stores provide seasonal products such as lawn and garden equipment, as well as useful items for home improvement projects. With its deep roots in catering to rural communities, Tractor Supply Company is significant in the retail market for supporting the needs of customers engaged in agriculture and outdoor activities. Founded in 1938, Tractor Supply's strategic focus on quality service and tailored product offerings for its core customers makes it a pivotal player in the rural lifestyle category, influencing both local economies and community-based retail landscapes.