Tractor Supply Closes Big Debt Contract | Zone stocks


Tractor Supply executives have finalized the sale of $ 650 million of 10-year debt that it will use to refinance other loans.

Brentwood-based Tractor Supply will only pay 1.75% interest on its new notes, the sale of which has been handled by a banking group led by Goldman Sachs, Wells Fargo Securities and Regions Securities. Company executives plan to repay the $ 350 million overdue term loan they set up in April as well as the $ 210 million in loans they took out in 2016 and 2017. The retailer now has total long-term debt of $ 987 million, roughly half of its equity.

Tractor Supply Actions (Ticker: TSCO) edged up to $ 133.22 early Friday afternoon. They have climbed nearly 50% year-to-date, bringing the company’s market capitalization to $ 15.5 billion.

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HealthStream executives and Truist Bank lenders this week changed the revolving credit agreement they first signed in 2014 to give the local business more financial strength for the next three years.

HealthStream’s new revolver gives the healthcare education and training company an additional $ 15 million – $ 65 million from the previous $ 50 million – as long as its leverage remains below a specified limit and that the company maintains its liquidity at $ 30 million or more.

Of note given that HealthStream CEO Bobby Frist and his team acquired two companies this year: The new gun has increased the amount the company can spend on minority investments in other companies to $ 20 million.

HealthStream shares (symbol: HSTM) were flat at $ 18.34 in Friday afternoon trading. They have lost around 30% of their value since the start of the year.


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