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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Agents Up to $500MM Credit Facility for Ralph Lauren
Monday, September 16, 2019
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Lenders/Participants
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JPMorgan Chase Bank [Administrative Agent]
Bank of America [Syndication Agent]
Wells Fargo Bank [Co-Documentation Agent]
HSBC Bank PLC, Dublin Branch [Co-Documentation Agent]
ING Bank N.V. [Co-Documentation Agent]
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Structure
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Revolving Credit Facility
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Amount
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$500.000
Million
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Borrower(s)
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Ralph Lauren Corporation
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Description
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The Facility may be used to finance the working capital needs, capital expenditures, certain investments and general corporate purposes of the Borrowers and their subsidiaries (which may include commercial paper back-up) and for funding of acquisitions. Letters of credit (the “Letters of Credit”) may be issued under the Agreement as described below. Certain terms and conditions of the Facility are as follows: The Agreement provides for a five-year, with options for extension, senior revolving credit facility in an aggregate amount at any one time outstanding of up to $500 million, including sub-facilities for Letters of Credit. In addition, the Agreement provides that the revolving commitments under the Facility may be increased to $1 billion, subject to certain terms and conditions. The Facility will mature in August 2024. Pursuant to the Agreement, borrowings under the Facility bear interest at a rate per annum equal to, at the Borrowers’ option, either (a) an alternate base rate or (b) a rate based on the rates applicable for deposits in the interbank market for U.S. Dollars or the applicable currency in which the loans are made (the “Adjusted LIBO Rate”) plus an applicable margin. The applicable margin for Adjusted LIBO Rate loans will be adjusted by reference to a grid (the “Pricing Grid”) based on ratings for the Company’s senior, unsecured long-term indebtedness provided by established ratings agencies.
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Industry
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Apparel
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| Related Tags |
Bank of America, Deutsche Bank Securites, HSBC Bank USA, ING Bank N.V, JPMorgan Chase Bank, Wells Fargo Bank
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ABL Advisor
Deal Tables
2024
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