---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-001005"
form_type: "8-K"
ticker: "LE"
cik: "0000799288"
company_name: "LANDS' END, INC."
filed_at: "2024-01-03T23:59:59+00:00"
generated_at: "2026-06-07T04:57:28.981109+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Lands' End enters $260M term loan facility with Blue Torch to repay existing debt

## Summary
- $260M term loan matures Dec 2028; amortizes 1.25% per quarter; proceeds repay prior Fortress facility.
- Interest rate: SOFR (2% floor) + 7.75%-8.25% margin; upfront fee 3% of principal.
- Loan secured by first priority on fixed assets (real estate, IP, stock) and second priority on working capital.
- Mandatory prepayments based on excess cash flow percentage (75% to 0%) depending on leverage; prepayment premiums 3%-0.5%.
- Financial covenants include quarterly max total leverage test and monthly min liquidity test.

## SEC filing metadata
- accession: 0000950170-24-001005
- form_type: 8-K
- ticker: LE
- cik: 0000799288
- company_name: LANDS' END, INC.
- filed_at: 2024-01-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/799288/000095017024001005/0000950170-24-001005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/799288/000095017024001005/le-20231229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-001005
- JSON: https://secwatch.observer/filing/0000950170-24-001005.json
- Plain text: https://secwatch.observer/filing/0000950170-24-001005.txt

## Key facts
- Debt Financings
  LANDS' END, INC. incurred term loan of $260 million with Blue Torch Finance LLC. at adjusted term SOFR (subject to a 2% floor) plus an applicable margin; applicable maturing December 29, 2028.
  - Instrument: term loan
  - Principal: $260 million
  - Counterparty: Blue Torch Finance LLC.
  - Rate: adjusted term SOFR (subject to a 2% floor) plus an applicable margin; applicable
  - Maturity: December 29, 2028
  - Event: incurrence
  source text: On December 29, 2023, Lands’ End, Inc. (the “Company”) entered into a term loan credit agreement by and among the Company, Blue Torch Finance LLC., as Administrative Agent and Collateral Agent and the other lender parties thereto (the “Term Loan Credit Agreement”) which provides the Company a term loan of $260 million (the “New Term Loan Facility”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/799288/000095017024001005/0000950170-24-001005-index.htm
- Material Agreements
  LANDS' END, INC. entered into Term Loan Credit Agreement with Blue Torch Finance LLC valued at $260,000,000 term loan facility (effective 2023-12-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Blue Torch Finance LLC
  - Value: $260,000,000 term loan facility
  - Effective: 2023-12-29
  source text: On December 29, 2023, Lands’ End, Inc. (the “Company”) entered into a term loan credit agreement by and among the Company, Blue Torch Finance LLC., as Administrative Agent and Collateral Agent and the other lender parties thereto (the “Term Loan Credit Agreement”) which provides the Company a term loan of $260 million (the “New Term Loan Facility”), the proceeds of which were used to (i) repay all the indebtedness under the Term Loan Credit Agreement, dated as of September 9, 2020, by and among the Company, the guarantors party thereto, Fortress Credit Corp. (as administrative agent and collateral agent) and the lenders party thereto (the “Prior Term Loan Facility”), and (ii) pay fees and expenses in connection with the financing.
  evidence_url: https://www.sec.gov/Archives/edgar/data/799288/000095017024001005/0000950170-24-001005-index.htm
- Material Agreements
  LANDS' END, INC. terminated Term Loan Credit Agreement dated September 9, 2020 with Fortress Credit Corp. valued at Repaid all indebtedness under the Prior Term Loan Facility (effective 2023-12-29).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Fortress Credit Corp.
  - Value: Repaid all indebtedness under the Prior Term Loan Facility
  - Effective: 2023-12-29
  source text: On December 29, 2023, Lands’ End, Inc. (the “Company”) entered into a term loan credit agreement by and among the Company, Blue Torch Finance LLC., as Administrative Agent and Collateral Agent and the other lender parties thereto (the “Term Loan Credit Agreement”) which provides the Company a term loan of $260 million (the “New Term Loan Facility”), the proceeds of which were used to (i) repay all the indebtedness under the Term Loan Credit Agreement, dated as of September 9, 2020, by and among the Company, the guarantors party thereto, Fortress Credit Corp. (as administrative agent and collateral agent) and the lenders party thereto (the “Prior Term Loan Facility”), and (ii) pay fees and expenses in connection with the financing.
  evidence_url: https://www.sec.gov/Archives/edgar/data/799288/000095017024001005/0000950170-24-001005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.