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 May 11, 2017, 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 July 18, 2014
(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
and, in addition to the Company, (i) certain of the Companys
non-US subsidiaries may borrow loans, and obtain letters of
credit, subject to a guarantee by the Company and its material
domestic subsidiaries and (ii) subject to limitations on the
aggregate amounts thereof in such currencies, certain of such
non-US subsidiaries may borrow loans and obtain letters of credit
denominated in Canadian Dollars, Euros, Hong Kong Dollars or UK
Pound Sterling. The Credit Agreement also (i) permits the Company
to add additional Borrowers and additional currencies, subject to
the consent of the Lenders lending to such additional Borrowers
or in such additional currencies, (ii) extends the maturity date
of the facility from July 18, 2019 to May 11, 2022 and (iii)
provides greater flexibility in respect of the Companys ability
to grant Liens on assets.
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
| Exhibit 4.1 |
Amendment and Restatement Agreement dated May 11, 2017 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 Five-Year Revolving Credit Agreement dated as of July 18, 2014 among the Company, the lenders from time to time party thereto and the Administrative Agent. |
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. L Brands, Inc. (NYSE:LB) Recent Trading Information
L Brands, Inc. (NYSE:LB) closed its last trading session up +0.11 at 48.40 with 5,612,510 shares trading hands.
