Kohl’s amends credit agreement for $1 billion five-year revolver

By Sarah Lizee

Olympia, Wash., July 25 – Kohl’s Corp. amended its credit agreement on Thursday with Wells Fargo Bank, NA as administrative agent, providing for a $1 billion five-year senior unsecured revolver, according to an 8-K filing with the Securities and Exchange Commission.

There is a $300 million accordion feature.

The agreement contains a maximum debt ratio financial covenant and restrictions on liens and subsidiary debt.

Wells Fargo Securities, LLC, BofA Securities, Inc., JP Morgan Chase Bank, NA, MUFG Bank, Ltd. and U.S. Bank NA are joint lead arrangers and bookrunners. Bank of America, JPMorgan, MUFG and U.S. Bank are syndication agents.

Kohl’s is a department store chain based in Menomonee Falls, Wis.

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