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VF (VFC) has issued an announcement.
V.F. Corporation has amended its $2.25 billion senior unsecured revolving credit facility, enhancing the definition of “Consolidated Net Worth” and adding certain add-backs for the calculation of its Financial Covenant. The amendment also introduces new interest rate categories based on credit ratings and imposes additional restrictions on secured obligations and equity-related payments before the end of a specified period. This follows the company’s disclosure and subsequent investigation conclusion of a cybersecurity incident reported in late 2023 and early 2024.
Find detailed analytics on VFC stock on TipRanks’ Stock Analysis page.