Tractor Supply Company Amended and Restated Credit Agreement

Tractor Supply Company entered into an Amended and Restated Credit Agreement on May 19, 2026, which amends and restates its existing credit agreement. The new agreement provides a revolving credit facility with a maximum principal amount of $1.30 billion, including sublimits for swingline loans ($75.0 million) and letters of credit ($150.0 million). The company also has an option to increase the facility or establish term loans up to an additional $500.0 million. The facility is unsecured and has a five-year term, with options to extend the maturity date by one year. Interest rates for borrowings will be based on either the bank's base rate plus a margin of 0.000% to 0.250% or Term SOFR plus a margin of 0.750% to 1.250%, determined by the company's long-term senior unsecured debt rating. The agreement includes covenants, such as a maximum leverage ratio of 4.00 to 1.00, and restrictions on subsidiary indebtedness, liens, and asset dispositions. Customary events of default are also outlined.