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Target sells six-year notes

Target Corp., the Minneapolis-based retail giant, has sold $500 million in six-year notes, said Merrill Lynch & Co, joint-lead manager of the debt offering.

The notes carry an interest rate of 5.5 percent, with a yield of 5.59 percent, paid semi-annually. The retailer's debt is rated A2 by Moody's Investors Service and Single-A by Standard & Poor's.

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