secwatch.observer — SEC 8-K summary
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Issuer:     Capri Holdings Ltd (CPRI)
CIK:        0001530721
Form:       8-K
Filed at:   2022-07-01T23:59:59+00:00
Accession:  0000950142-22-002064
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1530721/000095014222002064/0000950142-22-002064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1530721/000095014222002064/eh220266081_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-22-002064

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