Capri Holdings Ltd. Files 8-K with Material Agreements and Obligations
Ticker: CPRI · Form: 8-K · Filed: Feb 4, 2025 · CIK: 1530721
| Field | Detail |
|---|---|
| Company | Capri Holdings LTD (CPRI) |
| Form Type | 8-K |
| Filed Date | Feb 4, 2025 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 9 min |
| Key Dollar Amounts | $2.2 billion, $700 million, $392 million, $302 million, $1.5 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, corporate-action
TL;DR
Capri Holdings filed an 8-K on Feb 4, 2025, showing new deals, dropped deals, and new debt.
AI Summary
On February 4, 2025, Capri Holdings Ltd. (formerly Michael Kors Holdings Ltd.) filed an 8-K report detailing several material events. These include entering into a material definitive agreement, terminating a material definitive agreement, and creating a direct financial obligation. The filing also includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates significant corporate actions by Capri Holdings Ltd., including new financial commitments and the cessation of existing agreements, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements and financial obligations, suggesting potential shifts in the company's financial health and strategic direction.
Key Players & Entities
- Capri Holdings Ltd (company) — Registrant
- Michael Kors Holdings Ltd (company) — Former company name
- February 4, 2025 (date) — Date of earliest event reported
FAQ
What specific material definitive agreement did Capri Holdings Ltd. enter into?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the summary information.
What material definitive agreement was terminated by Capri Holdings Ltd.?
The filing states that a material definitive agreement was terminated, but the identity of this agreement is not specified in the provided text.
What is the nature of the direct financial obligation created by Capri Holdings Ltd.?
The filing reports the creation of a direct financial obligation, but the specific terms and amount of this obligation are not detailed in the summary.
When was Capri Holdings Ltd. formerly known as Michael Kors Holdings Ltd.?
The date of the name change from Michael Kors Holdings Ltd. to Capri Holdings Ltd. was September 20, 2011.
What is the primary business of Capri Holdings Ltd. according to its SIC code?
Capri Holdings Ltd. is classified under the Standard Industrial Classification code 3100, which pertains to Leather & Leather Products.
Filing Stats: 2,317 words · 9 min read · ~8 pages · Grade level 12.8 · Accepted 2025-02-04 16:10:53
Key Financial Figures
- $2.2 billion — amount of the U.S. Dollar equivalent of $2.2 billion (the "2025 Credit Facilities"), under w
- $700 million — t Facilities are comprised of (i) a new $700 million senior secured term loan facility compr
- $392 million — d term loan facility comprised of (a) a $392 million tranche of terms loans in U.S. Dollars
- $302 million — amount equal to the Euro equivalent of $302 million (the "Euro Term Loans," and together wi
- $1.5 billion — the Closing Date, and (ii) the existing $1.5 billion revolving credit facility (the "Revolvi
- $125 million — the issuance of letters of credit up to $125 million and swing line loans at the administrat
- $100 million — inistrative agent's discretion of up to $100 million. Capitalized terms that are not defined
- $450 million — n the Closing Date to repay in part the $450 million senior unsecured delayed draw term loan
- $750 million — to exceed the sum of (x) the excess of $750 million over the aggregate principal amount of
- $200,000,000 — cash and cash equivalents not to exceed $200,000,000, to Consolidated EBITDAR (as defined be
Filing Documents
- eh250586085_8k.htm (8-K) — 40KB
- eh250586085_ex1001.htm (EX-10.1) — 1151KB
- image_001.jpg (GRAPHIC) — 4KB
- logo.jpg (GRAPHIC) — 4KB
- 0000950142-25-000254.txt ( ) — 1646KB
- cpri-20250204.xsd (EX-101.SCH) — 3KB
- cpri-20250204_lab.xml (EX-101.LAB) — 33KB
- cpri-20250204_pre.xml (EX-101.PRE) — 22KB
- eh250586085_8k_htm.xml (XML) — 4KB
SIGNATURES
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, thereunto duly authorized. CAPRI HOLDINGS LIMITED Date: February 4, 2025 By: /s/ Krista A. McDonough Name: Krista A. McDonough Title: Senior Vice President, General Counsel & Chief Sustainability Officer