secwatch.observer — SEC 8-K summary
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Issuer:     Bath & Body Works, Inc. (BBWI)
CIK:        0000701985
Form:       8-K
Filed at:   2025-05-22T23:59:59+00:00
Accession:  0000950103-25-006354
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Bath & Body Works amends and restates senior secured ABL facility with five-year maturity
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- Facility matures five years after closing, with springing maturity 91 days prior to certain senior note maturities.
- Borrowing base includes 95% credit card receivables, 85% accounts receivable, 90% inventory NOLV, and up to $150M real property.
- Interest margins: SOFR loans 1.25%-1.75%, base rate loans 0.25%-0.75%; unused commitment fee 0.25%-0.30%.
- Financial maintenance covenant requires 1.00:1.00 EBITDAR/fixed charges when excess availability < greater of $70M or 10% of max borrowing.
- Existing lenders and new lenders participate; non-consenting lenders are assigned out at par.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/701985/000095010325006354/0000950103-25-006354-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/701985/000095010325006354/dp229149_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-006354

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer