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Our Credit Facility

On December 30, 2016, VF Holding Corp. (the “Company”) closed an amendment to the Company’s senior secured credit facility pursuant to which Term Loan lenders agreed to refinance their Term Loans due 2023 through the creation of a new $1.1 billion Term Loan B-1 facility with the same maturity date as the Term Loans. The aggregate principal amount of Term Loans refinanced in the transaction was $1.1 billion. Upon the closing of the offer, the Company’s senior secured first lien credit facility consisted of an approximately $1.1 billion Term Loan B-1 which matures on June 30, 2023.

 

The new Term Loan B-1 facility has the same security and guarantee package as the outstanding Term Loans and borrowings under the new Term Loan B-1 facility bear interest at a rate equal to, at the Company’s option, adjusted LIBOR plus 3.25% or a base rate plus 2.25%.

 

INFORMATION PROVIDED FOR U.S. FEDERAL INCOME TAX PURPOSES: Solely for U.S. federal income tax purposes, the Company has determined that (i) the Term Loan B-1 facility is “traded on an established market” within the meaning of section 1.1273-2(f) of the Treasury Regulations, and (ii) the “issue price” of the facility within the meaning of section 1.1273-2(b) of the Treasury Regulations is $100.5 per $100 face amount of the facility.

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