American Eagle announces $342M note exchange, $200M ASR, and ABL upsize to $600M

AMERICAN EAGLE OUTFITTERS INC

Exchange of $342M in 3.75% convertible notes for ~34.7M shares and $136.1M cash; $70M notes remain.
$200M accelerated share repurchase (ASR) with JPMorgan; ~13.4M shares initially delivered; final settlement by Q3 2022.
Pursuing upsize of ABL facility from $400M to $600M with 5-year extension; no definitive agreement yet.
Cash portion funded from existing cash and borrowings under existing $400M ABL facility.

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