Capri Holdings enters new $1.5B revolver credit facility, replacing prior facility

Capri Holdings Ltd

New $1.5B revolving credit facility with JPMorgan Chase as administrative agent, maturing T+5 years.
Facility replaces prior 2017 credit agreement; allows multi-currency borrowing and up to $500M expansion option.
Requires net leverage ratio ≤4.0x; interest based on SOFR, prime, or foreign benchmarks plus margin based on debt ratings.
Includes letter of credit subfacility ($125M) and swingline loans ($100M).
Effective July 1, 2022; proceeds for working capital and general corporate purposes.

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