PVH signs $450 million delayed-draw term loan facility, undrawn at closing
PVH Corp. entered a credit agreement dated April 25, 2025, providing a $450.0 million delayed-draw term loan facility that was undrawn at closing. The company may draw the loans before October 17, 2025, and plans to use them for general corporate purposes, including refinancing its 4 5/8% Senior Notes due 2025. The facility adds committed borrowing capacity and a future debt obligation, subject to a maximum net leverage covenant.
Key points
- Aggregate lending commitments of $450.0 million for senior, unsecured term loans, with no amount drawn at closing
- Loans may be funded before October 17, 2025, and will mature on April 3, 2026
- Initial margin of 1.125% over term SOFR or 0.125% over the base rate; commitment fee of 0.125% starting July 4, 2025
- Facility requires a maximum net leverage ratio and includes change-of-control and cross-default events of default
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 25, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.