--- schema_version: "secwatch.filing_event.v1" accession: "0001760965-25-000022" form_type: "8-K" ticker: "KTB" cik: "0001760965" company_name: "Kontoor Brands, Inc." filed_at: "2025-04-08T23:59:59+00:00" generated_at: "2026-05-23T19:05:56.797769+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Kontoor Brands enters $1.5B credit agreement to partly fund Helly Hansen acquisition ## Summary - New facilities: $700M Tranche A-1 term loan ($340M funded at close, $360M delayed draw), $300M delayed draw Tranche A-2, and $500M revolver (undrawn at close). - Proceeds from delayed draws earmarked for portion of purchase price to acquire Helly Hansen from Canadian Tire Corporation, announced Feb 18, 2025. - Tranche A-1 and revolver mature April 8, 2030; Tranche A-2 matures April 7, 2028. Interest based on SOFR plus applicable margin. - Financial covenants: total leverage ratio ≤4.50x (step-up to 5.00x for acquisitions) and interest coverage ratio ≥3.00x. - Obligations guaranteed by certain domestic subsidiaries and secured by first-priority liens on substantially all assets of those guarantors. ## SEC filing metadata - accession: 0001760965-25-000022 - form_type: 8-K - ticker: KTB - cik: 0001760965 - company_name: Kontoor Brands, Inc. - filed_at: 2025-04-08T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1760965/000176096525000022/0001760965-25-000022-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1760965/000176096525000022/ktb-20250408.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001760965-25-000022 - JSON: https://secwatch.observer/filing/0001760965-25-000022.json - Plain text: https://secwatch.observer/filing/0001760965-25-000022.txt ## Key facts - Debt Financings Kontoor Brands, Inc. incurred revolving credit of $500.0 million revolving credit facility (the "New Revolving Credit Facility") with JPMorgan Chase Bank, N.A., as administrative agent at Applicable Margin plus, at the Company's option, either (i) a base rate determin maturing April 8, 2030. - Instrument: revolving credit - Principal: $500.0 million revolving credit facility (the "New Revolving Credit Facility") - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent - Rate: Applicable Margin plus, at the Company's option, either (i) a base rate determin - Maturity: April 8, 2030 - Event: incurrence source text: The Second Amended and Restated Credit Agreement provides for (a) a $700.0 million term loan A facility (the "Tranche A-1 Facility"), $360,000,000 of which will be comprised of delayed draw term loans with the other $340,000,000 comprised of term loans made as of the Closing Date, (b) a $300,000,000 delayed draw term loan A facility (the "Tranche A-2 Facility") and (c) a $500.0 million revolving credit facility (the "New Revolving Credit Facility" and, together with the Tranche A-1 Facility and the Tranche A-2 Facility, the "New Credit Facilities"). evidence_url: https://www.sec.gov/Archives/edgar/data/1760965/000176096525000022/0001760965-25-000022-index.htm - Debt Financings Kontoor Brands, Inc. incurred credit facility of $300,000,000 delayed draw term loan A facility (the "Tranche A-2 Facility") with JPMorgan Chase Bank, N.A., as administrative agent at Applicable Margin plus, at the Company's option, either (i) a base rate determin maturing April 7, 2028. - Instrument: credit facility - Principal: $300,000,000 delayed draw term loan A facility (the "Tranche A-2 Facility") - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent - Rate: Applicable Margin plus, at the Company's option, either (i) a base rate determin - Maturity: April 7, 2028 - Event: incurrence source text: The Second Amended and Restated Credit Agreement provides for (a) a $700.0 million term loan A facility (the "Tranche A-1 Facility"), $360,000,000 of which will be comprised of delayed draw term loans with the other $340,000,000 comprised of term loans made as of the Closing Date, (b) a $300,000,000 delayed draw term loan A facility (the "Tranche A-2 Facility") and (c) a $500.0 million revolving credit facility (the "New Revolving Credit Facility" and, together with the Tranche A-1 Facility and the Tranche A-2 Facility, the "New Credit Facilities"). evidence_url: https://www.sec.gov/Archives/edgar/data/1760965/000176096525000022/0001760965-25-000022-index.htm - Debt Financings Kontoor Brands, Inc. incurred credit facility of $700.0 million term loan A facility (the "Tranche A-1 Facility"), $360,000,000 of which will be comprised of delayed dra with JPMorgan Chase Bank, N.A., as administrative agent at Applicable Margin plus, at the Company's option, either (i) a base rate determin maturing April 8, 2030. - Instrument: credit facility - Principal: $700.0 million term loan A facility (the "Tranche A-1 Facility"), $360,000,000 of which will be comprised of delayed dra - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent - Rate: Applicable Margin plus, at the Company's option, either (i) a base rate determin - Maturity: April 8, 2030 - Event: incurrence source text: The Second Amended and Restated Credit Agreement provides for (a) a $700.0 million term loan A facility (the "Tranche A-1 Facility"), $360,000,000 of which will be comprised of delayed draw term loans with the other $340,000,000 comprised of term loans made as of the Closing Date, (b) a $300,000,000 delayed draw term loan A facility (the "Tranche A-2 Facility") and (c) a $500.0 million revolving credit facility (the "New Revolving Credit Facility" and, together with the Tranche A-1 Facility and the Tranche A-2 Facility, the "New Credit Facilities"). evidence_url: https://www.sec.gov/Archives/edgar/data/1760965/000176096525000022/0001760965-25-000022-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.