Ralph Lauren Signs $750 Million Revolving Credit Facility
07 Juillet 2023 - 11:34PM
Dow Jones News
By Sabela Ojea
Ralph Lauren said Friday that it entered into a five-year
revolving credit facility of up to $750 million with JPMorgan Chase
Bank.
The fashion house said in a Securities and Exchange Commission
filing that the money may be used to finance working capital needs,
capital expenses, investments and other general corporate purposes.
The facility is set to mature in June 2028.
Revolving commitments under the facility may be increased up to
$1.5 billion, the company said.
On May 25, the retailer said it expects first-quarter revenue to
be flat to up slightly compared with the same period a year earlier
on a constant currency basis after reporting a decline in revenue
in North America and Europe in the prior quarter.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 07, 2023 17:19 ET (21:19 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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