KOHLS Corp 8-K

What Happened

• Kohl's Corporation announced (via 8-K filed July 1, 2026) that on June 30, 2026 it entered into Amendment No. 2 to its Credit Agreement with Wells Fargo Bank, N.A. as Agent. The amendment (the "Second Amendment") extends the maturity date of the company’s revolving credit facility by five years to June 30, 2031 and makes several pricing and borrowing-base changes.

Key Details

• Amendment date: June 30, 2026; 8-K filed July 1, 2026. Agent: Wells Fargo Bank, N.A.
• Maturity extended by five years to June 30, 2031.
• Applicable Margin revised: Base Rate Loans now carry a margin of 0.25%–0.50%; SOFR Loans carry 1.25%–1.50%. The previous 33% and 66% availability breakpoints were replaced by a single 50% breakpoint. A prior 0.10% Term SOFR credit spread adjustment was removed.
• Borrowing base modified to allow eligible in‑transit inventory up to 15% of the borrowing base; Availability is reduced by the facility’s Debt Maturity Reserve. Other minor term changes were made.
• The full amendment is attached as Exhibit 10.1 to the 8‑K.

Why It Matters

• The extension to June 30, 2031 pushes out near‑term debt maturity risk and preserves liquidity access under the revolving credit facility.
• The revised pricing grid and SOFR adjustments affect the company’s potential interest costs on borrowings; the single 50% availability breakpoint simplifies pricing tiers.
• Allowing up to 15% in‑transit inventory in the borrowing base can increase usable collateral and borrowing capacity, improving short‑term financing flexibility.

Keywords: credit facility, revolving credit, maturity extension, SOFR, borrowing base, liquidity, Kohl's.