AI English summary of an SEC filing — figures as filed
Ross Stores ROSTThe company entered into a new senior unsecured revolving credit agreement on June 27, 2025, providing up to $1.3 billion in borrowing availability. The 2025 Credit Facility expires in June 2030 and may be extended at the company's option for up to 1 additional one-year periods, subject to customary conditions, including lender consent to such extensions.
Key points
AI summaryThe company entered into a new senior unsecured revolving credit agreement on June 27, 2025, providing up to $1.3 billion in borrowing availability. The 2025 Credit Facility expires in June 2030 and may be extended at the company's option for up to 1 additional one-year periods, subject to customary conditions, including lender consent to such extensions.
Ross Stores said the 2025 Credit Facility, entered into on February 2022, replaces its existing $1.3 billion credit agreement and has substantially unchanged commercial terms and borrowing capacity limits. It said the new facility includes a $300 million sublimit for standby letters of credit and an option to increase its size to $700 million, with the agreement of the committing lenders.
The company said Term SOFR loans carry a margin of 0.675% to 1.25%, depending on its long-term debt credit rating, and that it pays a quarterly commitment fee of 0.05% to 0.125% per year on unused commitments.
The company said the agreement requires a ratio of Consolidated Adjusted Debt to Consolidated EBITDAR, calculated for the last 4 consecutive fiscal quarters, of no greater than 3.50 to 1.00 as of the last day of each fiscal quarter. It said no borrowings were outstanding under the new or existing credit agreements on the effective date.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Ross Stores enters 2025 Credit Facility with up to $1.3 billion in borrowings
The company entered into a new senior unsecured revolving credit agreement on June 27, 2025, providing up to $1.3 billion in borrowing availability. The 2025 Credit Facility expires in June 2030 and may be extended at the company's option for up to 1 additional one-year periods, subject to customary conditions, including lender consent to such extensions.
Source · Based on the filing body and exhibits
Existing credit agreement terminated; $300 million letter of credit sublimit
Ross Stores said the 2025 Credit Facility, entered into on February 2022, replaces its existing $1.3 billion credit agreement and has substantially unchanged commercial terms and borrowing capacity limits. It said the new facility includes a $300 million sublimit for standby letters of credit and an option to increase its size to $700 million, with the agreement of the committing lenders.
Source · Based on the filing body and exhibits
Term SOFR margin 0.675% to 1.25%; commitment fee 0.05% to 0.125%
The company said Term SOFR loans carry a margin of 0.675% to 1.25%, depending on its long-term debt credit rating, and that it pays a quarterly commitment fee of 0.05% to 0.125% per year on unused commitments.
Source · Based on the filing body and exhibits
Financial covenants and no borrowings outstanding at effective date
The company said the agreement requires a ratio of Consolidated Adjusted Debt to Consolidated EBITDAR, calculated for the last 4 consecutive fiscal quarters, of no greater than 3.50 to 1.00 as of the last day of each fiscal quarter. It said no borrowings were outstanding under the new or existing credit agreements on the effective date.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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