Victoria's Secret & Co. has announced an amendment to its existing Revolving Credit Agreement, initially dated August 2, 2021. On May 21, 2025, the company entered into Amendment No. 2 with JPMorgan Chase Bank, N.A., serving as both Administrative and Collateral Agent, alongside other lenders. The amendment extends the credit agreement's maturity date and introduces several key changes. These include a seasonal increase in the borrowing base advance rate for eligible inventory, a reduction in interest rates on borrowings, and adjustments to certain financial thresholds and reporting requirements. Additionally, the amendment replaces the CDOR rate with CORRA for Canadian borrowings. This strategic move aims to enhance financial flexibility and support Victoria's Secret's operations during peak seasons.
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