QVC refinances bank credit facility with $3.25B revolving line, lowers pricing, matures 2026

QVC INC

New $3.25B multi-currency revolving facility replaces existing $2.95B facility; $3.03B available after $220M drawn.
Interest rate margins reduced vs prior facility; ABR loans +0.25%-0.625%, LIBOR-based loans +1.25%-1.625%, based on leverage.
Maturity extended to October 27, 2026; secured by equity of QVC, Zulily, and Cornerstone.
Borrowers include QVC, Zulily, Cornerstone, and QVC Global; joint and several liability.
Proceeds to repay outstanding debt, finance working capital, and general corporate purposes.

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