PVH enters new €400M term loan and $1.5B revolver, maturing 2031, to refinance existing debt

PVH CORP. /DE/

New credit agreement consists of a €400M euro-denominated term loan A and a $1.5B multicurrency revolving credit facility.
Proceeds from the euro term loan used to repay all outstanding loans under the prior Dec 2022 credit agreement, which was terminated.
Facilities mature June 24, 2031; initial margins: 1.125% for euro term loan, 1.0% for benchmark revolver loans.
Financial covenant requires maintaining a maximum net leverage ratio; other terms include customary covenants and events of default.

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