secwatch.observer — SEC 8-K summary
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Issuer:     GAP INC (GAP)
CIK:        0000039911
Form:       8-K
Filed at:   2026-07-20T21:58:47+00:00
Accession:  0001628280-26-048865
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39911/000162828026048865/0001628280-26-048865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39911/000162828026048865/gap-20260717.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-048865

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