Gap extends ABL credit facility maturity to 2031, maintains $2.2B capacity

GAP INC

Maturity extended from July 2027 to July 2031; sustainability pricing adjustments removed.
Maximum availability unchanged at $2.2B; sublimits: $300M letters of credit, $200M swingline, $200M Canadian borrowings.
Interest rate: SOFR + 125-150 bps (U.S. dollar loans) or base rate + 25-50 bps; undrawn fee 25 bps.
Proceeds for working capital, capex, and general corporate purposes; guarantees and collateral unchanged.
Springing fixed charge coverage ratio covenant when availability falls below threshold.

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