VFC amends credit agreements; increases impairment charge addback up to $1.375B through Sept 2025

V F CORP

Revolver and term loan amendments add back up to $1.375B of non-cash impairment charges in net worth calculation through Sept 30, 2025.
Amendments also tighten restrictions on liens on current assets and limit dividends/distributions during the covenant modification period.
DDTL amendment adds prepayment requirements from asset sales, new debt, and equity issuances before covenant modification period ends.
Amendment effective date is August 2, 2024; required lenders approved the changes.
No default or event of default occurred as of the amendment effective date.

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