Gap enters $2.2B ABL credit facility maturing 2027, replacing prior facility

GAP INC

Initial aggregate principal amount of $2.2 billion under the ABL Credit Facility.
Facility matures on July 13, 2027; replaces the previous $2.2B facility dated May 7, 2020.
Interest is SOFR plus 125–150 bps (or base rate plus 25–50 bps), subject to sustainability-linked adjustments.
Includes $300M letter of credit sublimit, $200M swingline, and $200M Canadian borrowing sublimit.
Proceeds will repay existing facility and be used for working capital, capex, and general corporate purposes.

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