Loan & DebtJul 1, 2026, 04:43 PM
Kohl's Extends Revolving Credit Facility Maturity to 2031
AI Summary
Kohl's Corporation entered into Amendment No. 2 to its Revolving Credit Facility, extending the maturity date by five years to June 30, 2031. The amendment modifies the Applicable Margin pricing grid, replacing previous availability breakpoints with a single 50% breakpoint and adjusting rates for Base Rate and SOFR Loans. Additionally, the borrowing base now includes an in-transit inventory basket, allowing for the inclusion of eligible inventory up to 15% of the total borrowing base value.
Key Highlights
- Revolving Credit Facility maturity date extended by 5 years to June 30, 2031.
- Applicable Margin for Base Rate Loans now ranges from 0.25% to 0.50%.
- Applicable Margin for SOFR Loans now ranges from 1.25% to 1.50%.
- Removed prior 0.10% credit spread adjustment from Term SOFR.
- Borrowing base includes in-transit inventory basket up to 15% of total value.
Price Impact
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