QVC refinanced its senior secured credit facility, replacing its $2.65 billion bank credit facility with a new amended and restated multi-currency revolving credit facility which provides a line of credit of up to $3.65 billion.
According to the related 8-K filing, JPMorgan Chase Bank served as administrative agent on the transaction.
The new facility will mature on December 31, 2023 and includes a $400 million tranche for QVC’s subsidiary zulily as a co-borrower. The zulily tranche, interest pricing and maximum leverage ratio of 3.5x all remain unchanged from the previous facility.
