secwatch.observer — SEC 8-K summary
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Issuer:     Capri Holdings Ltd (CPRI)
CIK:        0001530721
Form:       8-K
Filed at:   2025-02-04T23:59:59+00:00
Accession:  0000950142-25-000254
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Capri Holdings enters $2.2B secured credit facilities, refinances existing debt
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- New $2.2B credit facilities: $700M term loan ($392M USD + €302M) and $1.5B revolving, maturing July 1, 2027.
- Proceeds repaid $450M delayed draw term loan (due Nov 2025) and a EUR 450M term loan from Intesa Sanpaolo.
- Facilities now secured by substantially all assets and registered IP of Capri and its U.S. subsidiaries.
- Net leverage covenant: ≤4.0x (4.5x after material acquisitions); same as prior agreement.
- Revolver interest based on public debt ratings or net leverage; unused commitment fee 7.5-17.5 bps.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1530721/000095014225000254/0000950142-25-000254-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1530721/000095014225000254/eh250586085_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-25-000254

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