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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Wells Fargo Agents $1.5B Asset-Based Revolver for Kohl's Corporation
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Lenders/Participants
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Wells Fargo Bank [Agent]
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Structure
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Asset-Based Revolving Credit Facility
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Amount
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$1.500
Billion
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Borrower(s)
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Kohl's Corporation
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Description
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The Credit Agreement provides for a $1,500,000,000 senior secured, asset based revolving credit facility. Outstanding amounts under the Credit Agreement bear interest at a rate per annum equal to, at the Company’s election: (1) a base rate (a fluctuating rate per annum equal to the greatest of (a) the federal funds rate plus 0.50%, (b) the one-month LIBOR rate plus one percentage point), (c) the rate of interest announced by the Agent as its “prime rate”, and (d) 0.75% (the “Base Rate”) plus an applicable margin (equal to a specified margin based on average daily availability and the interest rate elected by the Company (the “Applicable Margin”)), or (2) a LIBOR rate plus the Applicable Margin (the “LIBOR Rate”). Interest on loans under the Credit
Agreement bearing interest based upon the Base Rate is due monthly in arrears, and interest on loans bearing interest based upon the LIBOR Rate is due on the last day of each relevant interest period or, if sooner, on the respective dates that fall every three months after the beginning of such interest period. Obligations under the Credit Agreement are secured by substantially all of the assets of the Company and its subsidiaries other than real estate.
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Industry
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Retail
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| Related Tags |
Wells Fargo Bank
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ABL Advisor
Deal Tables
2025
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