8-K
filed February 16, 2023, 6:59 PM ET
ticker VFC
CIK 0000103379
debt
confidence high
sentiment neutral
materiality 0.60
V F CORP (VFC): debt financing — VF Corp amends credit agreements to relax leverage covenants and add up to $850M in addbacks
V F CORP
- Amended $2.25B revolver and $1.0B term loan to allow up to $850M aggregate addbacks for non-cash impairment charges and adverse legal rulings.
- Leverage ratio maximum: 0.70:1 through Sep 2024, 0.65:1 through Sep 2025, 0.60:1 thereafter through maturity.
- Amendments effective Feb 16, 2023; required lender consent obtained.
- Changes apply solely to Consolidated Net Indebtedness to Consolidated Net Capitalization financial covenant.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
V F CORP amended revolving credit of $2.25 billion maturing November 2026.
- Instrument
- revolving credit
- Principal
- $2.25 billion
- Maturity
- November 2026
- Event
- amendment
Exact text from the filing
On February 16, 2023 (the “Amendment Effective Date”), V.F. Corporation (the “Company” or “VF”) entered into an amendment (the “Revolver Amendment”) to its $2.25 billion senior unsecured revolving credit facility that expires November 2026.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
V F CORP amended term loan of $1.0 billion maturing December 2024.
- Instrument
- term loan
- Principal
- $1.0 billion
- Maturity
- December 2024
- Event
- amendment
Exact text from the filing
On the Amendment Effective Date, the Company entered into an amendment to its $1.0 billion delayed draw Term Loan Agreement that expires December 2024 (the “DDTL Amendment”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
V F CORP amended Revolver Amendment (effective 2023-02-16).
- Action
- amendment
- Agreement
- credit facility
- Effective
- 2023-02-16
Exact text from the filing
V.F. Corporation (the “Company” or “VF”) entered into an amendment (the “Revolver Amendment”) to its $2.25 billion senior unsecured revolving credit facility that expires November 2026.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
V F CORP amended DDTL Amendment (effective 2023-02-16).
- Action
- amendment
- Agreement
- credit facility
- Effective
- 2023-02-16
Exact text from the filing
the Company entered into an amendment to its $1.0 billion delayed draw Term Loan Agreement that expires December 2024 (the “DDTL Amendment”).
View on SEC.gov
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