American Eagle enters new $700M asset-based revolving credit facility due 2027

AMERICAN EAGLE OUTFITTERS INC

New five-year $700M ABL credit facility replaces prior agreement; matures June 24, 2027.
Facility includes $60M sublimit for Canadian borrower and $60M for letters of credit; additional $150M first-in, last-out option.
Interest rates: SOFR plus 1.125%-1.375% or base rate plus 0.125%-0.375%; commitment fee 0.20% on unused portion.
Proceeds for general corporate purposes and working capital; secured by inventory, receivables, and certain real property.
Contains springing fixed charge coverage ratio and customary covenants for asset-based financings.

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