secwatch.observer — SEC 8-K summary
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Issuer:     RALPH LAUREN CORP (RL)
CIK:        0001037038
Form:       8-K
Filed at:   2023-07-07T23:59:59+00:00
Accession:  0001104659-23-079157
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ralph Lauren enters into $750M revolving credit facility, matures 2028, replaces existing facility
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- New $750M senior unsecured revolver (expandable to $1.5B) with JPMorgan-led syndicate, matures June 2028.
- Facility replaces $750M credit agreement dated August 2019, which was terminated on June 30, 2023.
- Proceeds for working capital, capex, acquisitions, and general corporate purposes; includes $50M letter of credit subfacility.
- Interest margins tied to credit ratings; SOFR-based loans plus spread (50-100 bps), commitment fee 4-10 bps.
- Financial covenant: consolidated debt plus operating lease obligations to EBITDA (incl. lease expense) ratio tested quarterly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1037038/000110465923079157/0001104659-23-079157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1037038/000110465923079157/tm2320755d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-079157

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