Kohl's enters $1.5B senior secured ABL credit facility with Wells Fargo, matures Jan 2028

KOHLS Corp

New $1.5B asset-based revolving credit facility; prior $1.5B facility dated Oct 2021 terminated.
Facility matures Jan 19, 2028; interest at Base Rate or Adjusted Term SOFR plus Applicable Margin.
Collateralized by substantially all assets except real estate; springing fixed charge coverage ratio covenant.
Commitment fees range 0.250%-0.375% based on average daily availability; up to $1.5B accordion feature.

item 1.01 item 1.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

KOHLS Corp terminated Credit Agreement dated as of October 22, 2021 valued at terminated (effective 2023-01-19).

Action: termination
Agreement: credit facility
Value: terminated
Effective: 2023-01-19

Exact text from the filing

In connection with the Company’s entry into the Credit Agreement, the Company’s Credit Agreement dated as of October 22, 2021 was terminated as of January 19, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

KOHLS Corp entered into Credit Agreement with Wells Fargo Bank, National Association valued at $1,500,000,000 senior secured, asset based revolving credit facility (effective 2023-01-19).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: $1,500,000,000 senior secured, asset based revolving credit facility
Effective: 2023-01-19

Exact text from the filing

On January 19, 2023, Kohl’s Corporation (the “Company”) entered into a Credit Agreement, by and among the Company and its subsidiaries, and Wells Fargo Bank, National Association, as agent (the “Agent”), and the other lenders party thereto (the “Credit Agreement”).

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KOHLS Corp filing history →

Source: SEC EDGAR

accession 0001193125-23-010989

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