Levi Strauss & Co filed SEC Form 8-K: Entry into a Material Definitive Agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On November 8, 2024, Levi Strauss & Co. (the “Company”), Levi Strauss & Co. (Canada) Inc. (“LS Canada”) and certain other subsidiaries of the Company, entered into an eighth amendment to its second amended and restated credit agreement (the “Amendment”) with JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), JPMorgan Chase Bank, N.A., Toronto Branch, as Multicurrency Administrative Agent (together with the Administrative Agent, the “Agents”), the lenders party thereto, which amends the existing Second Amended and Restated Credit Agreement, dated as of May 23, 2017, as amended by that certain Amendment No. 1 to Second Amended and Restated Credit Agreement dated as of October 23, 2018, that certain Amendment No. 2, dated as of January 5, 2021, that certain Amendment No. 3, dated as of July 22, 2021, that certain Amendment No. 4, dated as of September 20, 2021, that certain Amendment No. 5, dated as of November 22, 2022, that certain Amendment No. 6 and Waiver, dated as of March 22, 2023, and that certain Amendment No 7, dated as of April 15, 2024 (as so amended, the “Existing Credit Agreement,” and, as further amended by the Amendment, the “Restated Credit Agreement”) by and among the Company, LS Canada, the other subsidiaries party thereto, the Agents, the lenders party thereto, and the other financial institutions and arrangers party thereto.
The Restated Credit Agreement modifies certain terms of the Existing Credit Agreement including, among other changes (i) extending the term of the agreement to November 2029 and (ii) resetting the $150,000,000 accordion option that allows for an increase in the total available commitments of up to $1,150,000,000 in the aggregate.
Other terms of the Existing Credit Agreement, as described in our Annual Report on Form 10-K filed on January 25, 2024, (including, without limitation, guarantees and security, covenants, events of default), have not been materially changed as a result of the Restated Credit Agreement and remain in full force and effect.
The foregoing does not constitute a complete summary of the terms of the Restated Credit Agreement and reference is made to the complete text of the governing document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits.
| 10.1 | Amendment No. 8 to Second Amended and Restated Credit Agreement, dated as of November 8, 2024, by and among the Company, LS Canada, certain other subsidiaries of the Company party thereto, the Agents, and the other financial institutions, agents and arrangers party thereto. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DATE: November 12, 2024 | LEVI STRAUSS & CO. | |||||
| By: | /s/ DAVID JEDRZEJEK | |||||
| Name: | David Jedrzejek | |||||
| Title: | Senior Vice President and General Counsel | |||||