Kohl’s enters into $1 billion five-year revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Oct. 22 – Kohl’s Corp. entered into a $1 billion five-year revolving credit facility with Wells Fargo Bank NA as agent on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The borrowers may request an increase in commitments of up to $500 million in some circumstances.

Bank of America, NA, JPMorgan Chase Bank, NA, MUFG Bank, Ltd. and U.S. Bank, NA are the syndication agents.

Wells Fargo Securities, LLC, BofA Securities, Inc., JPMorgan, MUFG and U.S. Bank are the lead arrangers and bookrunners.

BMO Harris Bank, NA, Toronto-Dominion Bank, New York Branch, Goldman Sachs Bank USA, Morgan Stanley Bank, NA and Capital One, NA are the documentation agents.

Borrowings will bear interest at Libor plus 91 basis points to 140 bps, and the facility fee ranges from 9 bps to 22.5 bps, both depending on ratings.

In connection with the new revolver, the company terminated its April 16, 2020 credit agreement with Wells Fargo as administrative agent.

Kohl’s is a retail-department store chain based in Menomonee Falls, Wisc.

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