secwatch.observer — SEC 8-K summary
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Issuer:     GAP INC (GAP)
CIK:        0000039911
Form:       8-K
Filed at:   2022-07-13T23:59:59+00:00
Accession:  0000039911-22-000058
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39911/000003991122000058/0000039911-22-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39911/000003991122000058/gps-20220713.htm
  HTML page:      https://secwatch.observer/filing/0000039911-22-000058

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