UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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ITEM 8.01 OTHER EVENTS.
As of 11:59 p.m. ET on April 2, 2022, Capri Holding Limited’s (“Capri” or the “Company”) senior long-term, unsecured debt had been rated investment grade by two of three specified rating agencies for two consecutive full fiscal quarters, meeting the criteria for the release of the collateral securing Capri’s obligations under its revolving credit facility and term loan facility, pursuant to that certain Credit Agreement dated as of November 15, 2018 with among others, JPMorgan Chase Bank, N.A., as administrative agent, and as amended from time to time (collectively, the “Credit Facility”).
On April 3, 2022, the Company notified the administrative agent under its Credit Facility that it had met the conditions for the release of the collateral securing Capri’s obligations under the Credit Facility.
The collateral, which consists of substantially all of the assets and certain registered intellectual property of Capri and certain of its subsidiaries, was released effective April 3, 2022.
For additional details regarding the Company’s Credit Facility, see pages 95-96 of our Annual Report on Form 10-K for the year ended March 27, 2021 and Exhibit 10.1 thereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CAPRI HOLDINGS LIMITED | |||
| Date: April 4, 2022 | |||
| By: | /s/ Thomas J. Edwards, Jr. | ||
| Name: | Thomas J. Edwards, Jr. | ||
| Title: | Executive Vice President, Chief Financial Officer and Chief Operating Officer | ||