Abercrombie & Fitch Enters Material Definitive Agreement

TL;DR

AF just signed a big deal, new financial obligation incoming.

AI Summary

Abercrombie & Fitch Co. entered into a material definitive agreement on August 2, 2024, related to a direct financial obligation. The filing details this agreement and includes financial statements and exhibits.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Abercrombie & Fitch, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial risks or obligations that may affect the company's performance.

Key Players & Entities

• Abercrombie & Fitch Co. (company) — Registrant
• August 2, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 6301 Fitch Path, New Albany, Ohio 43054 (address) — Principal executive offices
• (614) 283-6500 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 Par Value ANF New York Stock Exchange
• $400 million — redit Agreement"), which provided for a $400 million senior secured asset-based revolving cr
• $500 million — the aggregate commitments thereunder to $500 million; establish a $100 million sub-facilit
• $100 million — ereunder to $500 million; establish a $100 million sub-facility for the benefit of Abfico
• $50 million — ease the letter of credit sublimit from $50 million to $62.5 million; decrease the swing
• $62.5 million — of credit sublimit from $50 million to $62.5 million; decrease the swing line availability
• $30 million — g line availability from $50 million to $30 million; and decrease the unused line fee fro

Filing Documents

• anf-20240802.htm (8-K) — 34KB
• a08-07x2024form8xkxex101.htm (EX-10.1) — 2405KB
• 0001018840-24-000059.txt ( ) — 2919KB
• anf-20240802.xsd (EX-101.SCH) — 2KB
• anf-20240802_lab.xml (EX-101.LAB) — 21KB
• anf-20240802_pre.xml (EX-101.PRE) — 12KB
• anf-20240802_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On August 2, 2024, Abercrombie & Fitch Co. (the "Company"), as parent and a guarantor, Abercrombie & Fitch Management Co., an indirect wholly-owned subsidiary of the Company ("Management"), as lead borrower, and certain of the Company's direct and indirect wholly-owned subsidiaries (together with the Company and Management, "we," "us" or "our"), as additional borrowers and guarantors, entered into the Second Amendment to Amended and Restated Credit Agreement (the "Second Amendment"), together with the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent for the lenders (the "Agent"). The Second Amendment amends our existing Amended and Restated Credit Agreement, dated as of April 29, 2021 (the "ABL Credit Agreement"), which provided for a $400 million senior secured asset-based revolving credit facility. We incurred customary fees and expenses in connection with our entry into the Second Amendment. Capitalized terms used but not otherwise defined herein have the meanings ascribed thereto in the Second Amendment. The Second Amendment amends the ABL Credit Agreement to, among other things: increase the aggregate commitments thereunder to $500 million; establish a $100 million sub-facility for the benefit of Abfico Netherlands Distribution B.V. ("Abfico") and AFH Stores UK Limited ("AFH UK") that is (i) secured by a first priority security interest in all assets (subject to specified exclusions) of each of Abfico and AFH UK, (ii) guaranteed by the Company and certain of its domestic direct and indirect wholly-owned subsidiaries and (iii) subject to a borrowing base as described therein; extend the maturity date from April 29, 2026 to August 2, 2029; increase the letter of credit sublimit from $50 million to $62.5 million; decrease the swing line availability from $50 million to $30 million; and decrease the unused line fee from a variable rate of 25 bps to 37.5 bps

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (a) through (c) Not applicable (d) Exhibits: The following exhibits are included with this Current Report on Form 8-K: Exhibit No. Description 10.1 Second Amendment to Amended and Restated Credit Agreement, dated as of August 2, 2024, among Abercrombie & Fitch Management Co., as Lead Borrower; the other Borrowers and Guarantors party thereto, the Lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent for the Lenders (filed herewith). 104 Cover Page Interactive Data File - the cover page Inline XBRL tags are embedded within the Inline XBRL document SIGNATURE 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. Abercrombie & Fitch Co. Dated: August 7, 2024 By: /s/ Gregory J. Henchel Gregory J. Henchel Executive Vice President, General Counsel and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR