V.F. Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On May 21, 2025 (the “Amendment Effective Date”), V.F. Corporation (the “Company” or “VF”) entered into an amendment (the “Revolver Amendment”) to its $2.25 billion senior unsecured revolving credit facility agreement that expires November 2026 (the “Revolving Credit Facility”). The Revolver Amendment (i) makes certain amendments to the definition of “Consolidated Net Worth” and the aggregate amount of non-cash impairment charges and material impacts resulting from adverse legal rulings permitted to be included in determining Consolidated Net Worth as of the last day of each fiscal quarter ending after the Amendment Effective Date for purposes of determining compliance with the Consolidated Net Indebtedness to Consolidated Net Capitalization financial covenant and (ii) requires the Company and certain of its subsidiaries to provide guarantees and grant liens on certain of their assets to secure the obligations under the Revolving Credit Facility within 120 days of the Amendment Effective Date.
The foregoing description of the terms of the Revolver Amendment is not a complete description thereof and is qualified in its entirety by the full text of such agreement which is filed as Exhibit 10.1 hereto and incorporated by reference herein.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-balance Sheet Arrangement |
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1 | Amendment No. 5 to Revolving Credit Agreement, dated as of May 21, 2025, by and among V.F. Corporation, JPMorgan Chase Bank, N.A., as the Administrative Agent, the Lenders party thereto and the other parties 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.
| V.F. CORPORATION | ||
| By: | /s/ Paul Vogel | |
| Name: | Paul Vogel | |
| Title: | Executive Vice President and Chief Financial Officer | |
Date: May 21, 2025