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Target refinances credit agreement


New York City -- Target Corp. secured a new $2.25 billion unsecured credit facility, the retailer disclosed Friday in a filing with the Securities and Exchange Commission.

Target could borrow up to as much as $500 million under the credit agreement. The agreement with Bank of American and Citibank will expire in October of 2016 unless it is extended.

The current facility replaces a prior $2 billion credit agreement.

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