L Brands, Inc. (NYSE:LB) Files An 8-K Entry into a Material Definitive Agreement

L Brands, Inc. (NYSE:LB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On August 13, 2019, L Brands, Inc. (“L Brands” or the “Company”) entered into an amendment and restatement (the “Amendment”) of its amended and restated revolving credit agreement dated as of May 11, 2017 (as amended and restated, the “Credit Agreement”) among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, and the Lenders party thereto. A copy of the Amendment is attached hereto as Exhibit 4.1 and is incorporated herein by reference.

to the Credit Agreement, the aggregate amount of Commitments of the Lenders under the Credit Agreement remains $1,000,000,000. The Credit Agreement (i) increases the ratio of consolidated debt to consolidated EBITDA that permits the Company to make unlimited investments and restricted payments from 3.00 to 1.00 to 3.50 to 1.00, (ii) changes the Company’s ability to make restricted payments from an aggregate amount over the life of the revolving credit facility not to exceed the greater of (a) $1,000,000,000 and (b) 12.0% of Consolidated Total Assets to an aggregate amount per fiscal year of the Company not to exceed $400,000,000 and (iii) extends the maturity date of the facility from May 11, 2022 to August 13, 2024.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment. Capitalized terms not defined herein have the meanings set forth in the Credit Agreement.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information required by this item is included in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Amendment and Restatement Agreement dated August 13, 2019 among L Brands, Inc., a Delaware corporation, the Borrowing Subsidiaries party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent (the “Administrative Agent”), in respect of the Amended and Restated Revolving Credit Agreement dated as of May 11, 2017 among the Company, the lenders from time to time party thereto and the Administrative Agent.


L Brands, Inc. Exhibit
EX-4.1 2 dp111296_ex401.htm EXHIBIT 4.1   Exhibit 4.1   AMENDMENT AND RESTATEMENT AGREEMENT dated as of August 13,…
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About L Brands, Inc. (NYSE:LB)

L Brands, Inc. operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows. Bath & Body Works segment is the specialty retailer of home fragrance and personal care products, including shower gels, lotions, soaps and sanitizers. Victoria’s Secret and Bath & Body Works International segment includes the Victoria’s Secret and Bath & Body Works company-owned and partner-operated stores outside of the United States and Canada. The Company operates the retail brands, which include Victoria’s Secret, Bath & Body Works, La Senza and Henri Bendel. Henri Bendel is an operator of over 30 specialty stores.

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